Morgan Keegan Maintains Outperform on Ryder System

Morgan Keegan is out with its report today on Ryder System R, maintaining Outperform. In its report, Morgan Keegan writes, "At 11x our 2012 earnings estimate and down 14% for the year thus far, we believe shares of Ryder do not reflect the fundamentals of the company and therefore represent a buying opportunity. We maintain our Outperform rating." Morgan Keegan maintains a $65 PT on R. Shares of R closed Monday at $45.45, up 2.41% from Friday's close.