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UPDATE: Deutsche Bank Upgrades Con Way to Buy on Favorable Risk/Reward, Catalysts

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Deutsche Bank upgraded Con Way (NYSE: CNW) from Hold to Buy and raised the price target to $43.00.

Deutsche Bank commented, "We are upgrading CNW to Buy as we now see a favorable risk/reward given improving manufacturing activity, a strengthening housing market, and company-specific initiatives. Moreover, we see several near- to medium-term catalysts for shares: (a) improved investor sentiment; (b) high-profile competitor struggles; (c) potential for better LTL performance (pricing and cost initiatives may bear fruit in H2 2013); and/or (d) a management change if CNW continues to trip over its own feet operationally. While we remain disappointed with management's execution this business cycle, our sense is that the company's operational investments will begin to play out in H2 and 2014."

Con Way closed at $35.61 on Thursday.

Latest Ratings for CNW

DateFirmActionFromTo
Dec 2014NomuraInitiates Coverage onNeutral
Oct 2014CitigroupMaintainsNeutral
Oct 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for CNW
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

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