Landstar System price target lowered to $165 from $170 at Susquehanna

Susquehanna lowered the firm’s price target on Landstar System to $165 from $170 and keeps a Neutral rating on the shares. The analyst remains cautious on truckload-related transports into a “challenging” earnings season. The firm, however, is “hopeful that capitulating cuts can create entry points” in truckload or intermodal “on the other side of April’s tough terrain.” In the near-term, Susquehanna continues to prefer less-than-truckload and rail sectors to truckload-related transports for their pricing power and oligopolistic industry structures.