TD Cowen lowered the firm’s price target on Werner (WERN) to $30 from $33 and keeps a Buy rating on the shares. The firm said they posted an operating loss in 1Q, widely missing the firm’s estimates and consensus expectations. TTS margins deteriorated again in 1Q to roughly breakeven and volume air pocket is yet to be felt, setting up the company for a very difficult run rate into an uncertain Spring.
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Read More on WERN:
- Werner price target lowered to $23 from $32 at Susquehanna
- Werner price target lowered to $26 from $32 at BofA
- Optimistic Outlook for Werner Enterprises Amidst Short-term Challenges
- Werner price target lowered to $24 from $27 at Wells Fargo
- Werner downgraded to Underperform from In Line at Evercore ISI