Werner Enterprises, Inc. (WERN) Maintains Buy (1) Rating; Price Target Raised
March 18, 2010 8:08 AM
Analysts at BB&T Capital Markets have released an update on Werner Enterprises, Inc. (NASDAQ: WERN).
Analysts believe that the company faces three main challenges in its first-quarter, which are, Weather, which affected all trucks east of Oklahoma during the first three weeks of February, Fuel, which has increased 7% in the first-quarter so far, and State unemployment taxes, which have increased by $1.3 million in the first-quarter.
To account for these challenges, analysts have lowered first-quarter EPS estimates from $0.16 to $0.15. As a result 2010 EPS estimate goes down from $1 to $0.99. Analysts, however, believe that the 2010 market is transitioning from a buyer’s market to a supplier’s market.
Analysts at BB&T Capital Markets have raised the price target for Werner Enterprises, Inc. stock from $24 to $26 and continue to rate the company as Buy (1).
