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Covenant Transportation reports Q3 EPS 16c, may not compare to consensus 23c
Reports Q3 revenue $164.5M, consensus $164.5M.
Covenant Transportation downgraded to Market Perform at Avondale
As previously reported, Avondale analyst Donald Broughton downgraded Covenant Transportation to Market Perform from Outperform. The analyst views the recent bear market rally in Covenant shares as an opportunity to step to the sidelines given continued deterioration in the industry from softer demand and growing capacity.
Covenant Transportation initiated with a Buy at Stifel
Covenant Transportation downgraded to Hold from Buy at BB&T
Stephens sees Covenant Transportation weakness as attractive entry point
Stephens analyst Brad Delco believes Covenant Transportation's Q3 pre-announced earnings miss and corresponding drop in the stock provides an attractive entry point for investors. The analyst remains encouraged by Covenant Transportation's core team expedited operations, which he believes will continue to outperform its peers. Delco reiterates an Overweight rating on the stock, but lowered his price target on the shares to $23 from $26.
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