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Ryder Stock (NYSE:R) Soars 14% on Acquisition Rumor
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Ryder Stock (NYSE:R) Soars 14% on Acquisition Rumor

Shares of Ryder System (NYSE:R) jumped over 14% on Tuesday. This was attributable to rumors of a possible acquisition of the company by Apollo Global Management (NYSE:APO).

The rumor doesn’t mention anything about a purchase price. Nonetheless, based on the market’s reaction, it appears that traders expect it to be higher than its present market cap.

Is Ryder a Good Stock?

Ryder has a Hold consensus rating based on three Holds assigned in the past three months. The average Ryder stock price target of $83 implies 8.9% upside potential.

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