UPDATE: KeyBanc Upgrades Marten Transport to Buy, Names $25 PT on Constructive Outlook
In a report published Monday, KeyBanc upgraded its rating on Marten Transport (NASDAQ: MRTN) from Hold to Buy, and named a $25.00 price target.
KeyBanc noted, “MRTN is our favorite small-cap value idea based on our more constructive truckload outlook, its industry-leading position in the temperature-controlled market, and a more attractive growth profile from expanding intermodal, brokerage and regional offerings. Further, company-specific initiatives aimed at improving its freight mix, cost structure, and operational discipline provide additional margin improvement opportunity into 2013, which, in our view, is underappreciated at current valuation, while a healthy financial position provides flexibility to increase dividends and support growth longer term. We believe these dynamics could catalyze shares as truckload fundamentals recover into 2013.”
Marten Transport closed on Friday at $20.34.
Latest Ratings for MRTN
|Aug 2015||Stifel Nicolaus||Upgrades||Hold||Buy|
|Jul 2015||Stephens & Co.||Maintains||Overweight|
|Jan 2015||Raymond James||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.