TD Cowen analyst Jason Seidl reinstated coverage of Radiant Logistics with an Outperform rating and $10 price target. The analyst says a deleveraged balance sheet places the company in an "enviable position" now that it is on the other side of a long audit process. Radiant should see some sales support from the domestic forwarding business, which is proving more resilient despite a broader freight market slowdown, the analyst tells investors in a research note. The firm believes the company can get back to capital allocation with the audit and restatements behind it.
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