Wabash downgraded to Neutral from Buy at DA Davidson

DA Davidson analyst Michael Shlisky downgraded Wabash to Neutral from Buy with a price target of $25, down from $36. The company’s tone on 2024 last week at DA’s annual industrials conference was less optimistic than expected, the analyst tells investors in a research note. At the conference, the firm also learned of potential upside to 2024 Class 8 truck forecast and their potential dampening effect on trailer demand. It says the market “may have to digest a few tough headlines in the near-term” for Wabash.