Ryder System Shares Fall On Downgrade

NEW YORK (AP) — Shares of logistics and truck leasing company Ryder System Inc. fell sharply Monday after an analyst cut the stock to "hold," saying overall economic conditions should keep the stock from rising much in the near future.

Stifel Nicolaus analyst John Larkin said the stock is too expensive to justify his previous "buy" rating.

In a note to clients, Larkin said that while the Miami-based company has a strong management team and solid market position, he thinks the trucking industry will remain challenging at least through next year. ...