Ryder price target lowered to $102 from $105 at Stephens

Stephens lowered the firm’s price target on Ryder to $102 from $105 and keeps an Equal Weight rating on the shares. The company reported another beat and raise in Q3, with the firm believing the majority of the upside was driven by used vehicle results being better than anticipated, the analyst tells investors. Ryder, however, is not immune to near term weakness and believing finding a positive catalyst for positive re-rating in the stock could be challenging, Stephens says.