2023-07-05 10:29:21 ET
- Wabash National ( NYSE: WNC ) was downgraded to Market Perform from Strong Buy at Raymond James, due to a more balanced risk/reward.
- Shares of Wabash ( WNC ), which rose 0.5% YTD, slid 11.1% in morning trade.
- "We see an increasingly balanced risk/reward on the back of ongoing macro/truck market softness that in our view could negatively weigh on trailer demand into 2024 and drive Street estimates lower," said analyst Felix Boeschen.
- He expects Wabash ( WNC ) to post 2023/2024 adjusted EPS of $4.15/$2.70, compared with $4.13/$3.24 consensus .
- Raymond James' views contrast bullish SA Quant and sell-side ratings .
- Now read - Wabash National: Geared For Even More Growth
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Wabash National downgraded at Raymond James on more balanced risk/reward