Ryder price target raised to $100 from $91 at Stephens

Stephens analyst Justin Long raised the firm’s price target on Ryder to $100 from $91 and keeps an Equal Weight rating on the shares. Q4 results came in ahead of the Street, the 2023 adjusted EPS guidance midpoint was 6% above the Street estimate and Ryder authorized a new discretionary buyback program for up to 2M shares, noted the analyst, who called the quarter and outlook ahead of expectations overall. However, the firm believes the level of visibility in the transactional businesses remains limited, leading it to keep an Equal Weight rating.