Ryder initiated with an Equal Weight at Stephens

Stephens initiated coverage of Ryder with an Equal Weight rating and $137 price target. Ryder’s fleet management solutions business provides a solution for companies that wish to outsource a private fleet, including leasing and solutions to help manage this fleet, the analyst tells investors in a research note. The firm believes that while the company’s dedicated offering is differentiated from other dedicated offerings, all asset-based players have placed a larger emphasis on growing their dedicated business given the challenging freight environment, which is making the space more competitive.