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Fly News Breaks for July 11, 2018
USX, WERN
Jul 11, 2018 | 06:41 EDT
JPMorgan analyst Brian Ossenbeck downgraded Werner Enterprises (WERN) to Underweight and lowered his price target for the shares to $35 from $42. Consensus estimates look too high for 2019 unless the company can boost rates and productivity while growing the fleet, a feat accomplished only once in fifteen years, Ossenbeck tells investors in a research note. The analyst prefers of U.S. Xpress Enterprises (USX) to Werner, which he says offers a 50% discount with similar exposure and greater operating leverage.
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