Goldman Sachs Initiates Con-way Inc. At Neutral (CNW)

Goldman Sachs GS initiated coverage of Con-way Inc. CNW at Neutral with a $37 price target today. The analysts wrote that "we see an attractive short-term cyclical setup based on improving volumes and channel checks that indicate improved pricing trends." The firm is cautious, however, on the company's longer term secular outlook. Goldman's (GS) price target is equal to 17x the firm's 2011 EPS estimates. During today's trading session, CNW shares have gained 1.89% to $33.34. Con-way Inc. (CNW) provides transportation, logistics and supply-chain management services for a range of manufacturing, industrial and retail customers.