Sterne Agee Reiterates Buy Rating, $3.50 PT on Radiant Logistics
In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $3.50 price target on Radiant Logistics (NYSE: RLGT).
Sterne Agee noted, “RLGT's arbitration victory against a former rogue affiliate should clear up the overhang which has been sitting on the shares and allow the company to post stronger earnings in future quarters, with improved liquidity...In our view, this should remove the cloud over RLGT's shares via the alleviation of uncertainty, removing costs, and allowing the recapture of legal costs. This dispute with a former DBA affiliate which violated the terms of an acquisition agreement with respect to customer interference has been an overhang on the stock that should now be removed. This should allow for better earnings in future quarters as legal costs, customer activity and operations should run smoother.”
Radiant Logistics closed on Monday at $1.42.
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