Werner price target raised to $38 from $31 at Susquehanna

Susquehanna raised the firm’s price target on Werner (WERN) to $38 from $31 and keeps a Neutral rating on the shares. The firm adjusted targets in the logistics and trucking group as part of a Q1 preview. The analyst continues to view the early truckload cycle “inflection as primarily supply-driven, with limited demand contribution.” Even without a meaningful demand recovery, mid-single-digit truckload contract rate increases is a “reasonable” base case entering bid season, the analyst tells investors in a research note. Susquehanna says its high-frequency data and industry checks continue to point to a structural tightening on the supply side.