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Stifel Downgrades Wabash National (WNC) to Hold

December 8, 2015 6:52 AM EST
Get Alerts WNC Hot Sheet
Price: $29.43 --0%

Rating Summary:
    5 Buy, 9 Hold, 3 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 10 | New: 10
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Stifel downgraded Wabash National (NYSE: WNC) from Buy to Hold with a price target of $12.00.

Analyst Michael Baudendistel commented, "We are downgrading the shares of Wabash National from Buy to Hold as the current share price now provides relatively little upside potential to our reduced 12-month fair value estimate of $12 (or 10.0x our just-reduced 2017 EPS estimate of $1.20). While Wabash has done an admirable job improving the manufacturing efficiency of its operations in 2015, and we believe margins and EPS will remain relatively stable in 2016 despite the expected drop in production, it is our view that the turnaround in execution has now been largely contemplated by the market and that industry headwinds may limit upside by continuing to constrain valuation multiples. Additionally, we believe relatively weak fall orders for Class 8 trucks could impair demand for semi-trailers, and may make it difficult for Wabash to achieve its preliminary 2016 EPS guidance."

For an analyst ratings summary and ratings history on Wabash National click here. For more ratings news on Wabash National click here.

Shares of Wabash National closed at $11.55 yesterday.



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