Piper Jaffray Lowers Price Target For Con-Way, Inc. (CNW)

Analysts at Piper Jaffray have released an update on Con-Way, Inc. CNW. On Wednesday, the company completed its 4.3 million common stock offering at a price of $35 per share. The net proceeds from the offering are around $143.7 million. Analysts have lowered their EPS estimates for the company to reflect the share dilution. 2010 EPS estimate has been lowered from $1.35 to $1.30, while 2011 EPS estimate has been lowered from $2.19 to $2.04. The price target for the company has been lowered from $39 to $36. Analysts at Piper Jaffray have maintained their Neutral rating for Con-Way, Inc.