BofA analyst Ken Hoexter lowered the firm’s price target on Knight-Swift to $61 from $63 and keeps a Buy rating on the shares. The firm lowered its Q3 trucking-related EPS targets 6% on average within its coverage of truckload, less-than-truckload, truck brokerage, and airfreight carriers given subdued demand and pricing softness. The firm sees downside to earnings expectations as it sees pronounced rate/demand weakness across truckload/truck brokerage carriers, as well negative earnings pressure from the sequential rise in fuel prices, the analyst added in transportation sector preview note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KNX:
- Knight-Swift price target lowered to $54 from $62 at Stifel
- Knight-Swift price target lowered to $62 from $66 at Barclays
- Knight-Swift price target lowered to $45 from $51 at Susquehanna
- FedEx, Blue Owl Capital, RenaissanceRe added to ‘US 1’ list at BofA
- Knight-Swift CEO, CFO temporarily reduce base salaries by about 20%
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue