UPDATE: Taglich Brothers Reiterates Speculative Buy Rating, Lowers PT on Radiant Logistics

In a report published Wednesday, Taglich Brothers reiterated its Speculative Buy rating on Radiant Logistics

, but slightly lowered its price target from $2.85 to $1.85. Taglich Brothers noted, “Maintaining Speculative Buy rating. Lowering our (12-month) price target to $1.85 from $2.85 per share due to a $0.03 per share reduction in our FY14 EPS forecast. Due to economic concerns we have slashed our three-year annualized net income growth forecast (to FY14) to 13% from 27%. The two acquisitions in 2012 – Isla International and ALBS Logistics should drive income growth, partly offset by flat to lower operational growth for agency stations that predate the acquisitions. Isla International and ALBS Logistics will enable Radiant Logistics to open cross-border logistic operations into Mexico and provide international operations through JFK airport in New York, respectively.” Radiant Logistics closed on Tuesday at $1.25.