UPDATE: Wunderlich Securities Initiates Buy, $30 PT on Werner Enterprises; Consistent Results
Wunderlich Securities initiates its coverage on Werner Enterprises (NASDAQ: WERN) with a Buy rating and a price target of $30 per share.
Wunderlich Securities says, "WERN is one of the most consistent and highest quality names in the truckload universe. Management has continually de-emphasized growth in favor of operational efficiency, which has enabled the company to generate significant profitability, even in a challenging freight environment (such as 2008-2009). Given the company's track record of improving operations, we view long-term targets of 89% operating ratio and 15% ROE as achievable. Moreover, the pursuit of these goals should allow the company to generate significant cash flow, which we expect will lead to additional payments to shareholders."
WERN closed at $23.76 on Wednesday.
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Tags: Wunderlich Securities