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Werner Enterprises (NASDAQ:WERN): Upgraded to Overweight at JP Morgan; potential for upside surprise

Notable Calls (July 1st, 2009) Writes:
div style="text-align: justify;"JP Morgan is upgrading span style="font-weight: bold;"Werner Enterprises (NASDAQ:WERN)/span to Overweight from Neutral with a $24 price target (prev. $18).br /br /span style="font-weight: bold;"According to the analyst, WERN is one of the names within their coverage space that reflects low/spanspan style="font-weight: bold;" expectations and potential for significant upside surprise. /spanThey believe that WERN’s 2Q results are likely to show significant traction on cost-cutting initiatives while it provides attractive leverage to a turn in the economy in the medium term. They also believe the combination of low expectations and traction on cost cutting supports an attractive reward to risk profile even if the TL cycle turn takes time.br /br /span style="font-weight: bold;"Low expectations support attractive risk to reward. /spanShort interest of 24% of the float for WERN versus 11% on average for the other TL and LTL names JP Morgan covers is one indication of market skepticism regarding WERN, ...

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