Wachovia Upgrades Trucking Sector

January 9, 2007 9:00 AM, EST

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Wachovia Capital Markets upgraded the U.S. trucking sector to “market weight” from “underweight,” citing opportunities for investors to be more constructive ahead of the next upturn, Reuters reported.Though the operating environment for truckers will remain difficult in the first half of 2007, the negative sentiment towards the group is starting to come down, Wachovia said in a research note, Reuters reported.The brokerage firm upgraded trucking concerns Con-way Inc. Covenant Transport to “outperform” from “market perform” and raised another four trucking companies to "market perform" from “underperform,” Reuters said.