JPMorgan initiated coverage of Landstar System with a Neutral rating and $186 price target. The analyst is concerned that 2024 estimates are too high, particularly in the first half of the year, as the spread between spot and contract truckload rates continues to normalize from the widest on record and will pressure brokerage industry margins. This setup limits the near-term upside for Landstar shares, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LSTR:
- Landstar Announces Increase to Stock Purchase Program and Special Dividend
- Landstar System board declares special dividend of $2.00 per share
- Landstar System board increases stock purchase program to 3M shares
- Frank A. Lonegro to Succeed James B. Gattoni as Landstar CEO
- Landstar System names Frank Lonegro CEO, effective February 2
