Quantum received multiple purchase from Ryder Quantum Fuel Systems Technologies Worldwide (QTWW) announced receipt of multiple purchase orders from Ryder (R) for more than 80 vehicles for Q-RailLITE and Q-CabLITE CNG fuel system modules. In May Quantum and Ryder entered into a long term agreement for the purchase and supply of complete CNG fuel systems for businesses that lease and rent CNG vehicles from Ryder. With the agreement, Ryder will purchase innovative CNG tank systems directly from Quantum and install them onto NG-powered vehicles using Ryder's network of certified installation facilities.
Ryder upgraded to Buy from Hold at Stifel Stifel upgraded Ryder to Buy with a $104 price target based on reasonable valuation and expectations for Fleet Management Solutions NBT margin growth. The firm expects improved sales/marketing efforts to drive higher full service leasing growth and significant growth from the recently launched On-Demand maintenance product.