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Heartland Express downgraded to Hold by Stifel on valuation

  • Heartland Express (HTLD -0.7%) shares tick down after Stifel Nicolaus downgrades the trucker to Hold from Buy and removes its $19 PT.
  • Analyst John Larkin calls the downgrade "primarily valuation based as well as from our view that most transportation equities are trading ahead of the still mediocre underlying freight market fundamentals."
  • The firm will potentially revisit its Hold rating if shares trade down through $16, Larkin noted.
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