Market Overview

UPDATE: Wunderlich Securities Initiates Coverage on Con-way with Hold Rating, $32 PT

Related CNW
Earnings Scheduled For April 29, 2015
Transportation Q1 Earnings Preview From Goldman Sachs
Accuride: With The Turnaround Largely Complete, Shares Should Start Truckin' In The Right Direction (Seeking Alpha)

In a report published Friday, Wunderlich Securities initiated coverage on Con-way (NYSE: CNW) with a Hold rating and $32.00 price target.

Wunderlich noted, “We are initiating coverage of Con-way Inc. (CNW) with a Hold rating and $32 target. CNW is the third-largest LTL carrier, a relevant truckload carrier, and supply chain management company. CNW has long been considered a premium service provider of LTL freight, but now finds itself in a catch-up position to competitors in terms of technology and network sophistication. Although CNW has experienced material yield increases over the prior eight quarters, its operating ratio of mid-90% still lags 400-500 bps above levels achieved in the past. CNW is in the early innings of a three-year plan focused on Lean principals and productivity initiatives to drive margin expansion, but the velocity of earnings progression has been slow to develop.”

Con-way closed on Thursday at $27.71.

Latest Ratings for CNW

Mar 2015Stifel NicolausUpgradesHoldBuy
Feb 2015Deutsche BankMaintainsHold
Jan 2015Deutsche BankMaintainsHold

View More Analyst Ratings for CNW
View the Latest Analyst Ratings

Posted-In: Wunderlich SecuritiesAnalyst Color Initiation Analyst Ratings


Related Articles (CNW)

Around the Web, We're Loving...