UPDATE: Bank of America Merrill Lynch Reiterates Neutral Rating, Lowers PT on Werner Enterprises

In a report published Friday, Bank of America Merrill Lynch reiterated its Neutral rating on Werner Enterprises

, but lowered its price target from $27.00 to $25.00. BofA Merrill Lynch noted, “Werner is one of the largest Truckload carriers in the U.S. As capacity was removed during the downturn, the market has approached equilibrium in the industry, leading to slight price increases, benefiting well positioned carriers such as Werner. We anticipate pricing gains will accelerate from last year due to the tight market and rising regulation (hours of service, CSA 2010-safety rule changes, electronic log books) though rising costs could work to offset some gains. Thus, remain Neutral.” Werner Enterprises closed on Thursday at $23.67.