Market Overview

Sterne Agee Reiterates Buy Rating, $3.50 PT on Radiant Logistics

Share:
Related RLGT
Benzinga's Top Initiations
Radiant Logistics Announces Proposed Public Offering Of Common Stock
Radiant Logistics (RLGT) Sees Hammer Chart Pattern: Time to Buy? - Tale of the Tape (Zacks)

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.

Latest Ratings for RLGT

DateFirmActionFromTo
Jul 2015Cowen & CompanyInitiates Coverage onOutperform
Jun 2015Lake StreetInitiates Coverage onBuy
Jun 2015BB&T CapitalInitiates Coverage onBuy

View More Analyst Ratings for RLGT
View the Latest Analyst Ratings

Posted-In: Sterne Agee GroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (RLGT)

Get Benzinga's Newsletters