Loop Capital analyst Jeffrey Kauffman kept his Buy rating and $47 price target on Knight-Swift but also raised his FY18 EPSS view to $2.46 from $2.29. The analyst cites the company's "stronger-than-expected margin recovery in the former Swift businesses, as well as lower operating costs and higher revenues per mile at the former Knight properties." Kauffman adds that while the Knight and Swift merger of 2017 had its challenges in the pace of materialized synergies, signs of progress in the recent quarter's results give investors an opportunity to take advantage of the pullback in Knight-Swift stock price.

TD Cowen lowered the firm's price target on Knight-Swift to $52 from $58 and keeps a Buy rating on the shares. The firm said preliminary 1Q results significantly missed Cowen's already below consensus estimates and 2Q guide is halved from prior levels. the company has seen TL contract losses amid an aggressive bid season and has raised spot exposure to support utilization and third party insurance business was hit in 1Q but has been wound down.

Susquehanna lowered the firm's price target on Knight-Swift to $50 from $59 and keeps a Neutral rating on the shares. The firm said they are not surprised the company pre-announced, but are surprised by the magnitude of the miss for 1Q and 2QE. Susquehanna meaningfully cut 2024-25 forecasts again today, though it finally looks like the new 2024 base of $1.20 is de-risked to a point the company can almost cetainly grow from.

Barclays lowered the firm's price target on Knight-Swift to $57 from $62 and keeps an Overweight rating on the shares. While soft Q1 results were expected, the company's updated guidance sheds light on the magnitude of the supply challenges facing the truckload sector, the analyst tells investors in a research note. However, the firm says the market appears more focused on less-than-truckload, with flat Q2 margin guidance perhaps calling into question expectations for operating ratio improvement at larger competitors.

Loop Capital last night downgraded Knight-Swift (KNX) to Hold from Buy with a price target of $53, down from $63. While CSX's (CSX) results held up reasonably well in an economy "pretty devoid of freight demand," Knight-Swift "is in a very different place, with a profit warning on Wednesday," the analyst tells investors in a research note. The firm says the demand picture "suggests the bottom might still be ahead of us." In addition, Knight-Swift recent missteps "have taken the shine off their best-in-class reputation," contends Loop. The firm is moving to the sidelines until the U.S. freight economy "begins to organize itself in a more constructive manner."