Stifel Nicolaus reiterated its Buy rating on Roadrunner Transportation Systems RRTS and raised the price target from $23.00 to $24.00.
Stifel Nicolaus noted, "Roadrunner management made it very clear on its conference call that it plans to continue its aggressive acquisition-driven growth strategy in 2013. The company's pipeline of deals appears to be full, and it has $20mm of cash on its balance sheet and an untapped $125mm revolver ready to spring into action. Acquisitions may be small or large, but the most important criteria along with the right price (4x-6x EBITDA and immediately accretive) is a good cultural fit, as the company wants the integration into Roadrunner of the business to go smoothly and be long-lasting and positive."
Roadrunner Transportation Systems closed at $19.80 on Wednesday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in