Analyst Coverage Initiated BDE, WERN
4 companies had coverage initiated today; Black Diamond Inc (BDE), Akorn Inc (AKRX), Werner Enterprises (WERN) and Knight Transportation (KNX) all were initiated today.
Knight and Werner are being covered by SunTrust Robinson Humphrey, both initiated with Neutral biases. Werner Enterprises, Inc., a transportation and logistics company, engages in hauling truckload shipments of general commodities in interstate and intrastate commerce primarily in the United States and Mexico. Knight Transportation, Inc., together with its subsidiaries, operates as a short to medium-haul truckload carrier of general commodities in the United States. The Neutral bias on each of these companies indicates a hesitation on the part of SunTrust due to the uncertainty of the American consumer market.
Oppenheimer inidicated Black Diamond with an Outperform bias. Black Diamond, Inc., together with its subsidiaries, develops, manufactures, and distributes outdoor recreation equipment and active lifestyle products in the United States and internationally.
Finally, Needham initiated coverage on Akorn with a Buy rating.
Akorn, Inc. engages in the manufacture and marketing of diagnostic and therapeutic pharmaceutical products, hospital drugs, and injectable pharmaceuticals in the United States and internationally.
Most coverage this year has been initiated as either positive or neutral with very few negative biases so far. This is typically the positive time of year when companies are coming out with year-end results and prognostications about the coming year. We’ll see.