Werner price target lowered to $47 from $52 at BofA

BofA lowered the firm’s price target on Werner to $47 from $52 and keeps a Buy rating on the shares. The firm lowered its Q3 trucking-related EPS targets 6% on average within its coverage of truckload, less-than-truckload, truck brokerage, and airfreight carriers given subdued demand and pricing softness. The firm sees downside to earnings expectations as it sees pronounced rate/demand weakness across truckload/truck brokerage carriers, as well negative earnings pressure from the sequential rise in fuel prices, the analyst added in transportation sector preview note.