UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on Con-Way Following Site Visit

In a report published Friday, Dahlman Rose reiterated its Buy rating on Con-Way

, and raised its price target from $38.00 to $40.00. Dahlman Rose noted, “Our recent meeting with management at CNW and Con-Way Freight left us with increased confidence that the company should be able to show solid margin improvement in the second half of this year and beyond. Indeed, management appears to be ahead of its goals of converting terminals to the Lean manufacturing model. The company is also seeing early success in its lane-based pricing initiative and the targeting of smaller accounts.” Con-Way closed on Thursday at $35.15.