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In a report published Tuesday, Stifel Nicolaus analyst John Larkin downgraded Heartland Express, Inc.
HTLD from Buy to Hold due to valuation and removed its $19.00 price target.
According to the report, “Rating change is primarily valuation based as well as from our view that most transportation equities are trading ahead of the still mediocre underlying freight market fundamentals.”
The report further asserted HTLD would potentially revisit its Hold rating should the company's shares trade down through $16.00, all else should be equal.
HTLD closed Monday at $19.54.
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