WERN - Werner Enterprises is upgraded at Wells Fargo with earnings expected to improve

Wells Fargo turned constructive on Werner Enterprises (NASDAQ:WERN) with an upgrade to Equal Weight from Underweight. The firm walked away from a meeting with Werner (WERN) management more convinced that the business portfolio should show strength in the next cycle. Analyst Allison-Poliniak-Cusic: "As the risk of peak pricing levels increases, in our view, WERN should continue to reflect stability in its earnings power. We are increasing our FY22 and F23 EPS estimates to $3.90 (from $3.80) and $3.80 (from $3.65), respectively. Additionally, we are increasing our PT to $46 from $38, which represents a 12x multiple on our FY23 estimates, a slight discount to its median multiple, which is reflective of our view that earnings growth could underperform its peers near term given the ongoing strength in the transport market." Werner Enterprises (WERN) was noted to have ended 2021 with a net leverage of 0.6X, which falls well within its

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Werner Enterprises is upgraded at Wells Fargo with earnings expected to improve