Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

CSFB Downgrades Roadway to 'Neutral'

CS First Boston downgraded Roadway (ROAD) to neutral from outperform.

Analyst Gary Yablon says he downgraded the trucking and transportation company for two main reasons: Roadway is closing in on his target price, and he believes it's a better move for investors to watch Roadway build its next-day delivery portfolio from the sidelines -- considering the disappointing performance at New Penn, the company's next-day ground service delivery unit.

Yablon says New Penn turned in a very weak quarter with an operating ratio of 94.6%. Even with unfavorable weather costing Roadway 200 basis points of margin, the results were still below what he expected. Although New Penn is not a key earnings per share driver, he thinks it will be more important as Roadway's next-day segment bulks up.

Yablon sees $3.53 2003 earnings per share, and $4.30 for 2004. He has a $42 target.

blog comments powered by Disqus