Morgan Stanley raised its price target to $320 after stronger second-quarter results, citing the company's seventh straight quarter of earnings-per-share growth.
Ryder System, Inc. reported stronger second-quarter results, with earnings per share of $3.73 beating analyst estimates of $3.69 and improving from $3.32 in the same period a year earlier. Revenue came in at $3.35 billion. Following the results, Morgan Stanley increased its price target for Ryder System to $320, implying 18.27% potential upside, as the company recorded its seventh consecutive quarter of earnings-per-share growth.