TD Cowen analyst Jason Seidl downgraded Werner (WERN) to Hold from Buy with an unchanged price target of $24. The firm cites valuation and market weakness for the downgrade. Werner is trading at an “unjustified premium” to peers, the analyst tells investors in a research note. TD says its recent channel checks indicate incremental weakness in the truckload market, which could bring 2026 consensus estimates down.
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