Ryder price target raised to $120 from $100 at Wells Fargo

Wells Fargo raised the firm’s price target on Ryder to $120 from $100 and keeps an Equal Weight rating on the shares after its Q4 earnings miss. The analyst cites the company’s commentary and favorable outlook, with the firm also boosting its FY24 EPS view to $12.00 from $11.90. Ryder’s strategy to strengthen its foundation and balance cyclicality remains on course, the firm tells investors in a research note.