Werner downgraded to Hold from Buy at Stifel

Stifel downgraded Werner Enterprises to Hold from Buy with a price target of $42, down from $45. The analyst says there is “plenty of optimism in the freight market for a cyclical inflection.” While Stifel feels the likelihood that freight gets better rather than worse and momentum should be in Werner’s favor, it finds it “tough to see concrete evidence of capacity tightening, let alone to triangulate timing,” the analyst tells investors in a research note. As such, the firm believes the stock is fairly valued.