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Benzinga
Benzinga
Business
Akanksha Bakshi

JPMorgan Upgrades Werner Enterprises To Neutral, Sees 10% Upside

WERN JPMorgan
  • JPMorgan analyst Brian Ossenbeck upgraded Werner Enterprises, Inc. (NASDAQ:WERN) to Neutral from Underweight and raised the price target to $47 (an upside of 10.1%) from $44.
  • Ossenbeck says the company's strategy to replace tractors off-cycle, "aggressive" recruiting of drivers, and significant investment growing the dedicated fleet represents a focus on growth through the cycle.
  • The analyst believes the dedicated business should provide "greater stability" long-term but adds some operations can still require support from a stronger freight market to maximize backhauls.
  • Also read: Werner Beats Q4 Estimates, Points To Organic Growth Opportunities.
  • Price Action: WERN shares closed lower by 0.12% at $42.70 on Thursday.
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