Wells Fargo Downgrades Werner Enterprises (WERN) to Market Perform; Costs More Problematic

Wells Fargo downgraded Werner Enterprises (NASDAQ: WERN) from Outperform to Market Perform and cut their valuation range to $22.00 to $24.00 from $27.00 to $28.00.

The analyst comments, "We are downgrading the shares of WERN to Market Perform from Outperform because we believe cost headwinds will be more problematic and
longer lasting than we had previously anticipated."

Following the Q3 2012 pre-release of EPS of $0.33-0.36 (vs. our and Street $0.44) the firm lowering 2012 EPS estimate to $1.45 from $1.58. The are lowering 2013 EPS estimate to $1.71 from $1.83.

For an analyst ratings summary and ratings history on Werner Enterprises click here. For more ratings news on Werner Enterprises click here.

Shares of Werner Enterprises closed at $23.67 yesterday.

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