Werner price target lowered to $31 from $36 at Stifel

Stifel lowered the firm’s price target on Werner (WERN) to $31 from $36 and keeps a Hold rating on the shares following Q4 results. The firm told investors that while headline print was pressured by one-way truckload and clouded by significant non-GAAP restructuring impacts, underlying trends in Dedicated remained constructive, supported by fleet growth and improving end market diversification. Stifel added that it believes the shift away from one-way OTR limits leverage.