Werner price target raised to $45 from $37 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on Werner (WERN) to $45 from $37 and keeps an Overweight rating on the shares. With the integration of the FirstFleet acquisition and realignment of the one-way truckload business, “change is in the air” for Werner, but the market will view this as “a show-me story in the near-term,” the analyst tells investors. Longer-term, the firm sees the changes resulting in structurally higher and less cyclical earnings with a higher normalized multiple, the analyst added.