Landstar System downgraded to Market Perform from Outperform at Raymond James

Raymond James analyst David Hicks downgraded Landstar System (LSTR) to Market Perform from Outperform without a price target The stock’s valuation is at record levels and the shares are near the firm’s prior price target the analyst tells investors in a research note. Raymond James also believes Landstar will be a later cycle beneficiary than it has been in the past. As such, it sees a balanced risk/reward setup.