Introduction
Centaur Investments is proud to reaffirm the previously disclosed "Strong Buy" opinion on shares of YRC Worldwide Inc. (YRCW). In combination with this opinion, we are lowering our price target to $10 from $15. We continue to view YRCW's intrinsic value to be considerably higher than this $10 PT implies. However, the lower price target was deemed necessary following the overextended share price decline in the last 90 days. We interpret this sharp pullback as potentially mistaken and irrational market behavior and view the current share price in the lower $3 range