BofA double upgrades Schneider on favorable post-election impacts

As reported earlier, BofA analyst Ken Hoexter double upgraded Schneider National (SNDR) to Buy from Underperform with a price target of $34, up from $27. The stock in morning trading is up 2% to $31.03. The firm sees favorable impacts post the U.S. election results from improved consumer confidence, rising domestic manufacturing, increasingly deregulatory environment, and a lower corporate tax rate, leading to a “more constructive” truckload cycle upturn. Schneider shares will be supported by an eventual truck pricing upturn, the analyst tells investors in a research note.