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Fly News Breaks for April 11, 2017
SWFT
Apr 11, 2017 | 07:18 EDT
Raymond James analyst Patrick Brown downgraded Swift Transportation (SWFT) to Market Perform from Outperform after yesterday's 24% gain on the Knight Transportation (KNX) merger announcement saying near-term truckload fundamentals remain "opaque," leading him to lower estimates again. Brown believes risk/reward is now balanced given his substantively lower estimates and potential synergies from the new Knight/Swift entity.
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