Wabash price target lowered to $8.50 from $11 at DA Davidson

DA Davidson lowered the firm’s price target on Wabash (WNC) to $8.50 from $11 and keeps a Neutral rating on the shares. The company’s Q1 results showed early signs of a turn in freight with a moderately better tone on trailer-market activity heard on the earnings call, while the management is prudently looking to step out in front of balance-sheet and debt issues, although the terms that Wabash might receive from banks is unclear, the analyst tells investors in a research note.