Ryder Upgraded to Buy and 3 Stock Analyses to Eye
Delta Air Lines Inc. (NYSE:DAL): Current price $13.49
Goldman upgraded the Airline sector to Neutral from Cautious and believes airline traffic growth has bottomed and that expectations have been reduced to reasonable levels. As part of the sector change, the firm upgraded Delta Air Lines (NYSE:DAL) to Buy from Sell.
Canadian Pacific Railway Limited (NYSE:CP): Current price $109.66
Goldman prefers other sectors with greater leverage to a rebound in global trade vs. Railroads in 2013. The firm maintains Conviction Buy rated Canadian Pacific (NYSE:CP) as a top pick and downgraded Norfolk Southern (AMEX:NFC) and CSX (NYSE:CSX) to Neutral from Buy.
Ryder System, Inc. (NYSE:R): Current price $53.20
Goldman upgraded the Trucking sector to Attractive from Neutral based on expectations for a rebound in traffic growth driven by B2C freight flows, industrial activity, and housing. As part of the sector change, the firm upgraded Ryder (NYSE:R) to Buy from Neutral and notes Conviction Buy rated Old Dominion (NASDAQ:ODFL) as its top pick.
Expeditors International of Washington Inc. (NASDAQ:EXPD): Current price $42.53
Goldman upgraded the Airfreight/Logistics sector based on expectations for global freight growth to rebound in 2013. The firm views Conviction Buy-rated Expeditors (NASDAQ:EXPD) as the best play in global trade growth and expects Buy-rated FedEx’s (NYSE:FDX) operating leverage to drive earnings upside.