Susquehanna analyst Bascome Majors lowered the firm’s price target on Landstar System (LSTR) to $120 from $130 and keeps a Neutral rating on the shares. The firm said there has been confirmation of a steady March with some pickup in flatbed and cross-border and confidence in management’s decisions under CEO Frank Lonegro, but no real visibility into demand. They are trimming estimates on insurance/claims costs and remain cyclically conservative into 2Q and beyond.
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