Landstar System "outperform," target price raised

03/27/08 - Robert W. Baird

NEW YORK, March 27 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Landstar System Inc (LSTR). The target price has been raised from $55 to $57.

In a research note published this morning, the analysts mention that the company's revenues seem to be growing by 5%-10% on a y/y basis, significantly higher than the contracting truck freight market. Landstar System appears well positioned to meet or exceed the 1Q expectations, the analysts say. Landstar System’s success with the growth initiatives might lend upside to the 2009 estimates for the company, Robert W Baird adds.