Citi analyst Christian Wetherbee raised the firm’s price target on Werner to $48 from $42 and keeps a Neutral rating on the shares. The analyst reduced estimates for truck and logistics names for Q4 and 2023 ahead of the Q4 results. The air pocket of freight materialized in Q4 with a "lackluster" peak season and "bleak outlook" for freight over the course of the next few months, Wetherbee tells investors in a research note. That said, the consensus trade has been to get searly cycle, which means owning Truckload stocks," writes the analyst.
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