Piper Jaffray Reports On R Investor Meetings

Piper Jaffray reports positive growth prospects for Ryder System Inc R after last week's investor meetings. According to Piper Jaffray, "Generally mgmt is relatively upbeat with respect to growth prospects - as evidenced by R starting to lever its balance sheet further and putting capital to work. However, a larger percentage of earnings improvement during 2011 is expected from early cycle Commercial Rental (CR) and prior acqs which likely deserves a lower relative multiple." R has a Neutral Rating and closed at $49.40 yesterday.