Wunderlich Securities initiates its coverage on Rush Enterprises RUSHA with a Buy rating and a $27 price target.
Wunderlich Securities comments, "We believe that Rush's earnings will continue to benefit from a historically old fleet that will require a multi-year replacement cycle,
acquisition activity on both the heavy- (HD) and medium-duty (MD) fronts, and strength in higher margin parts and services that is driving record absorption rates. In addition, Rush continues to deliver strong execution on its three-pronged growth strategy of expanding aftermarket service capabilities, broadening its commercial vehicle offering, and expanding its geographical network of truck centers."
RUSHA closed at $15.97 on Wednesday.
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Posted In: Analyst ColorPrice TargetInitiationPre-Market OutlookAnalyst RatingsWunderlich Securities
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