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Fly News Breaks for December 4, 2018
WERN
Dec 4, 2018 | 06:11 EDT
UBS analyst Thomas Wadewitz downgraded Werner Enterprises to Neutral and lowered his price target for the shares to $36 from $42. The analyst says that while the stock's valuation has come down sharply, he does not have "conviction regarding a catalyst" for the truckload names. He had been anticipating an "earlier and more pronounced" peak season tightening in the truckload spot market. Until the most recent weekly data point this tightening had not been visible, Wadewitz tells investors in a research note.
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