Landstar System price target lowered to $180 from $196 at Susquehanna

Susquehanna lowered the firm’s price target on Landstar System to $180 from $196 and keeps a Neutral rating on the shares. The firm believes management teams and investors are coming to terms with a “lower for longer” reality and expect 2024 consensus forecasts to fall materially into and out of earnings season. Susquehanna believes truckload is still long capacity and short pricing power into 2024.