Landstar System upgraded to Equal Weight from Underweight at Morgan Stanley

Morgan Stanley analyst Ravi Shanker upgraded Landstar System to Equal Weight from Underweight with a price target of $140, up from $120. While Shanker continues to see the highest mean reversion risk at the Freight Forwarders and thinks there is still risk to Landstar in terms consensus EPS, the stock has historically closely tracked spot rates and the firm’s QURE model points to this inflecting higher soon.