JPMorgan Downgrades Werner Enterprises (WERN) to Underweight
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JPMorgan downgraded Werner Enterprises (NASDAQ: WERN) from Neutral to Underweight with a price target of $35.00.
Analyst Brian Ossenbeck said the relative value is diminishing after the run-up. He cited:
- Best performing TL stock under coverage YTD by ~700bps
- Lack of gains and 'TL trifecta' will mute 2019 EPS growth
- Newly-public USX offers similar exposure at a discount.
Shares of Werner Enterprises closed at $38.15 yesterday.
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