UPDATE: Sterne Agee Downgrades Werner Enterprises to Neutral on Tougher Environment
Sterne Agee reduced its rating on Werner Enterprises (NASDAQ: WERN) from Buy to Neutral and lowered its price target from $28 to $25.
Sterne Agee noted, "Readthroughs from 2Q trucker reports and anecdotal conversations imply a tougher road ahead for organic growth in the truckload space. While WERN is one of the best pure operators in the space, relying solely on organic growth opportunities could lead to disappointing growth in EPS. Unlike other truckers who might make use of their balance sheet to create growth, WERN is likely to underperform."
Werner Enterprises closed at $23.80 on Monday.
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