As previously reported, Wolfe Research downgraded Knight-Swift to Peer Perform from Outperform and removed the firm’s price target. Along with other truckload-levered stocks, the firm continues to see significant EPS risk for Knight-Swift and argues that valuation remains “very elevated on our reduced estimates” even with the stock’s underperformance. The firm, while moving to the sidelines, notes that it now has Peer Perform ratings on all the truckload stocks it covers.
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