Landstar System initiated with a Hold at Truist

Truist initiated coverage of Landstar System (LSTR) with a Hold rating and $160 price target The firm expects rising manufacturing to bring the freight industry out of a recession in the near-term and it sees rising truckload spot rates to translate to higher revenue per load and gross profit per load, leading to higher profitability. However, at the current valuation, it believes these positives are already priced in, the analyst tells investors.