TD Cowen raised the firm’s price target on Werner (WERN) to $43 from $36 and keeps a Hold rating on the shares. The firm said 1Q beat on TTS margin as WERN saw gains from One-Way revenue quality measures. Yield guidance was raised albeit modestly due to high Dedicated mix. The company sees path to double-digit TTS margins, but Cowen expects a gradual ramp relative to more spot/one-way exposed peers.
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