Morgan Keegan Maintains Outperform on Ryder System

Morgan Keegan is out with its report today on Ryder System (NYSE: R), maintaining Outperform.

In its report, Morgan Keegan writes, "At 11x our 2012 earnings estimate and down 14% for the year thus far, we believe shares of Ryder do not reflect the fundamentals of the company and therefore represent a buying opportunity. We maintain our Outperform rating."

Morgan Keegan maintains a $65 PT on R.

Shares of R closed Monday at $45.45, up 2.41% from Friday's close.