Ryder price target raised to $122 from $115 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Ryder to $122 from $115 and keeps a Buy rating on the shares after its Q4 earnings beat. The company’s Q1 anticipates a stronger drag from the still soft freight environment, including ongoing softness in commercial rental utilization and used vehicle gains, but for balance of the year, the firm’s EPS outlook is somewhat above prior forecast as margins are expected to recover and as used truck markets settle out, the analyst tells investors in a research note.