Werner upgraded to Neutral at Susquehanna on truckload-related recovery

As previously reported, Susquehanna upgraded Werner (WERN) to Neutral from Negative with a $38 price target The analyst believes it is “appropriate” to capitalize a greater 2026 profit recovery at target multiples “modestly above long-term averages,” which is a shift from the firm’s prior stance and the net impact of higher earnings at lower multiples moves most of its targets in the truckload and intermodal transports group higher, the analyst tells investors. The firm’s more bullish stance on truckload-related shares “ultimately hinges on hope for a 2026 price-driven earnings recovery,” solidified by incremental progress in the 2025 bid season, the analyst explains.