Knight-Swift price target raised to $67 from $60 at KeyBanc

KeyBanc analyst Todd Fowler raised the firm’s price target on Knight-Swift to $67 from $60 and keeps an Overweight rating on the shares. Near-term trends were consistent with expectations, with weakness largely concentrated outside of core truckload offerings, and 2023 guidance is also in line with expectations and centered on realistic expectations, the analyst tells investors in a research note. KeyBanc believes an argument for a higher trough and lower cyclicality is warranted absent a more material economic showdown.