Ryder price target lowered to $105 from $107 at Stifel

Stifel analyst Bert Subin lowered the firm’s price target on Ryder to $105 from $107 and keeps a Hold rating on the shares. Ryder’s Q1 adjusted EPS was below the firm’s estimate and the consensus, which is the first earnings miss for the company "in a while" and was the result of an SCS impairment charge, the analyst tells investors. Its Q2 guidance was also slightly below consensus. Stifel has updated its Q2-Q4 2023 estimates to reflect more earnings risk from a tougher freight environment that may extend longer than expected.