Schneider National price target raised to $34 from $32 at Benchmark

Benchmark raised the firm’s price target on Schneider National (SNDR) to $34 from $32 and keeps a Buy rating on the shares after the company announced the acquisition of Cowan Systems, a primarily dedicated contract service carrier with complimentary brokerage, drayage, and warehousing services. The firm, which believes the acquisition is aligned with Schneider’s long term strategy of growing its Dedicated service offering over the Network truckload business to create more stability over a cycle, notes that its price target now reflects its estimate of Schneider’s mid-cycle EPS of $1.71.