Market Overview

UPDATE: Wunderlich Securities Reiterates On Con-way Following Strong 1Q14 Results

Related CNW
Nomura Analysts Initiate Coverage On Transports
The Top 25 Analysts On Wall Street
Dow Transports Slump on Profit Taking, Economic Worries (Fox Business)

In a report published Friday, Wunderlich Securities analyst Nicholas J. Bender reiterated a Hold rating on Con-way (NYSE: CNW), and raised the price target from $40.00 to $44.00.

In the report, Wunderlich Securities noted, “Con-way (CNW) reported better-than-expected 1Q14 results on Wednesday afternoon, with EPS of $0.20 topping the $0.16 consensus. Management's conference call yesterday brought more optimism, and it appears the company is once again hitting its stride as we enter a period of more favorable seasonality. Improving LTL demand conditions are at the company's back, spurring an acceleration in tonnage growth and putting consistent margin enhancement within reach.

"As a result, we are raising our estimates slightly and increasing our price target from $40 to $44, reflecting a valuation level that is more in line with the peer group. Nevertheless, we believe a permanent inflection in operating margin is still several quarters off, at the earliest, and remain comfortable with our Hold rating.”

Con-way closed on Thursday at $44.26.

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: Nicholas J. Bender Wunderlich SecuritiesAnalyst Color Price Target Analyst Ratings

 

Related Articles (CNW)

Around the Web, We're Loving...

Get Benzinga's Newsletters