Fly News Breaks for November 21, 2019
Nov 21, 2019 | 07:43 EDT
Raymond James analyst Felix Boeschen initiated coverage of Wabash with a Strong Buy rating and $19 price target. In a research note to investors, Boeschen says he believes a host of company-specific initiatives -- including its rapid diversification into the truck body market, idiosyncratic cost levers, substantial cross- selling opportunities, and an underlying rate of change at the company coupled with near- trough valuation levels -- outweigh the widely expected downturn in trailer production. The analyst adds that he thinks shares could re-rate quicker upon evidence that some of Wabash's company-specific initiatives are taking hold or if trailer net orders find a clear bottom.
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