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Fly News Breaks for May 1, 2019
CVTI
May 1, 2019 | 06:18 EDT
Stephens analyst Brad Delco downgraded Covenant Transportation to Equal Weight from Overweight and lowered his price target for the shares to $22 from $25. While the analyst agrees with Covenant's strategy of increasing its dedicated truckload exposure, he fears the story is now shifting to more of a "execution story in the midst of operating in a less robust environment." As such. he sees more risk to the company's outlook following the company's Q1 results.
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