UPDATE: Sterne Agee Raises PT on Quality Distribution from $16 to $18
Sterne Agee maintained a Buy rating on Quality Distribution (NASDAQ: QLTY) and raised its price target from $16 to $18.
Sterne Agee noted, “QLTY's EPS report was a penny below consensus, but the growth pipeline has been strong, and the company's results should improve in 2H12. We continue to believe investors are not properly valuing the asset-light carrier, and growth in energy exposure with improving Bakken production and stronger chemical transport comps bodes well for the fall.”
Quality Distribution closed at $9.76 on Tuesday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.