Ryder Stock (NYSE:R) Soars 14% on Acquisition Rumor
Shares of Ryder System (NYSE:R) jumped over 14% on Tuesday. This was attributable to rumors of a possible acquisition of the company by Apollo Global Management (NYSE:APO). The rumor doesn''t mention anything about a purchase price. Nonetheless, based on the market''s reaction, it appears that traders expect it to be higher than its present market cap. Is Ryder a Good Stock? Ryder has a Hold consensus rating based on three Holds assigned in the past three months. The average Ryder stock price target of $83 implies 8.9% upside potential.
Ryder Stock (NYSE:R) Soars 14% on Acquisition Rumor
Shares of Ryder System (NYSE:R) jumped over 14% on Tuesday. This was attributable to rumors of a possible acquisition of the company by Apollo Global Management (NYSE:APO). The rumor doesn''t mention anything about a purchase price. Nonetheless, based on the market''s reaction, it appears that traders expect it to be higher than its present market cap. Is Ryder a Good Stock? Ryder has a Hold consensus rating based on three Holds assigned in the past three months. The average Ryder stock price target of $83 implies 8.9% upside potential.