UPDATE: JP Morgan Raises PT to $10 on Quality Distribution on EPS Stabilization Signs

JP Morgan maintained Quality Distribution QLTY with a Neutral rating and raised the price target from $8.00 to $10.00. JP Morgan commented, "While EPS was down -26% oya, we believe underlying this headline is some early evidence of stabilization in the EPS run rate in the form of actions the company is taking to improve utilization levels a few quarters from now. This view is further supported by a strong revenue start to 1Q. Still, after a strong move in QLTY stock over the past three months, we believe reward-to-risk is balanced and we maintain our Neutral rating." Quality Distribution closed at $8.26 on Thursday.