NEW YORK — A Deutsche Bank analyst upgraded Werner Enterprises Inc., saying the trucking sector is improving and the company will be able to increase its rates.
Analyst Justin Yagerman said Werner's shares are cheaper than those of other trucking companies, despite its "strong relative performance" during the recession. He said the Omaha, Neb., company will be able to hike its rates as trucking capacity tightens as the economy improves.
Yagerman boosted his investment rating on Werner to "Buy" from "Hold" and set a $26 price target on the shares, implying that the shares could rise 23 percent from Tuesday's close. Shares are currently trading near 52-week highs.
He also said Werner's shares have historically risen more steeply during the first half of the year than the Standard & Poor's 500 index.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.