Fly Intel: Top five analyst upgrades » 09:5809/1509/15/21
TECH, SE, AA, MTDR, KNX, SNDR, WERN
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Bio-Techne (TECH) upgraded to Overweight from Sector Weight at KeyBanc with analyst Paul Knight saying management held an upbeat Analyst Day on September 10 and provided a FY26 revenue goal that is twice FY21 revenue. 2. Sea Limited (SE) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying the company is an "industry leader" in both gaming and e-commerce and its two core businesses have experienced "tremendous growth" over the past year. 3. Alcoa (AA) upgraded to Buy from Hold at Argus with analyst David Coleman citing its improving balance sheet, rising aluminum prices and recent developments in the Chinese market. 4. Matador (MTDR) upgraded to Overweight from Neutral at JPMorgan with analyst Arun Jayaram citing the company's "continued operational outperformance," an attractive mix of growth and free cash flow generation and increasing shareholder returns for the upgrade. 5. Knight-Swift (KNX), Schneider National (SNDR) and Werner (WERN) all upgraded to Outperform from Market Perform at Cowen with analyst Jason Seidl saying the consensus view appears to be underestimating the trucking industry's pricing power in 2022. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Knight-Swift upgraded to Outperform at Cowen on truckers' pricing power » 08:0809/1509/15/21
As previously reported,…
As previously reported, Cowen analyst Jason Seidl upgraded Knight-Swift to Outperform from Market Perform with a price target of $62, up from $59. The consensus view appears to be underestimating the trucking industry's pricing power in 2022, said Seidl, who sees pricing to be up by a mid-single digits percentage. The analyst, who has increased his "already above-consensus estimates" to reflect the better pricing and what he projects to be flat fleet growth in 2022, believes truckload carriers are positioned for higher than expected EPS growth next year.
Knight-Swift upgraded to Outperform from Market Perform at Cowen » 05:3709/1509/15/21
Cowen analyst Jason Seidl…
Cowen analyst Jason Seidl upgraded Knight-Swift Transportation to Outperform from Market Perform with a price target of $62, up from $59.
Knight-Swift launches Iron Truck Services organization » 09:3709/1409/14/21
Knight-Swift Transportation announced that it has launched Iron Truck Services, an organization that brings together services essential to transportation carriers and includes insurance, equipment maintenance, fuel purchasing, and truck sales and rentals. Iron Trucks Services provides affordable solutions to truckload carriers by leveraging the scale and infrastructure of the nation's largest carrier, Knight-Swift. Iron Truck Services includes the following offerings: IRON INSURANCE, which provides auto, general, and cargo liability insurance, as well as physical damage insurance options at affordable rates. All policies are supported by risk management services that promote safe operational practices for policyholders. IRON FUEL PROGRAM, which is a free membership program providing access to a discount network of over 1,500 fueling locations nationwide, with savings, credit lines, fuel tax filing, and other benefits. IRON MAINTENANCE, which offers wholesale prices, free DOT inspections, and maintenance services at 19 locations nationwide, with additional locations planned to open before the end of the year. IRON TRUCK SALES & RENTALS, which offers a wide selection of used, DOT qualified trucks and equipment at 30 locations nationwide.
|Over a week ago|
Knight-Swift initiated with an Outperform at Raymond James » 08:0109/1009/10/21
Raymond James analyst…
Raymond James analyst Felix Boeschen initiated coverage of Knight-Swift with an Outperform rating and $60 price target. While there is the possibility that rising truckload supply could slow the pace of rampant truckload price increases across the complex, Boeschen believes that several major tailwinds in Knight-Swift's increasingly multi-modal offering, coupled with its discount-to-peer valuation, more than offset a possible ebbing of truck rates into 2H22/2023, the analyst tells investors in a research note. The analyst sees a favorably skewed risk/reward.
Knight-Swift initiated with an Outperform at Raymond James » 16:1509/0909/09/21
Raymond James analyst…
Raymond James analyst Felix Boeschen initiated coverage of Knight-Swift with an Outperform rating and $60 price target.
|Over a month ago|
Werner downgraded to Sector Weight from Overweight at KeyBanc » 05:3208/0908/09/21
KeyBanc analyst Todd…
KeyBanc analyst Todd Fowler downgraded Werner (WERN) to Sector Weight from Overweight with no price target as he shifts his preference in the trucking sector to names with "idiosyncratic growth catalysts," such as Knight-Swift (KNX), and to multi-modal names. Despite his cautious truckload outlook and expectation for labor constraints to limit earnings upside despite favorable pricing dynamics, he expects valuation to limit downside, Fowler added.
Marten Transport downgraded to Sector Weight from Overweight at KeyBanc » 05:3108/0908/09/21
KeyBanc analyst Todd…
KeyBanc analyst Todd Fowler downgraded Marten Transport (MRTN) to Sector Weight from Overweight with no price target as he shifts his preference in the trucking sector to names with "idiosyncratic growth catalysts," such as Knight-Swift (KNX), and to multi-modal names. Despite his cautious truckload outlook and expectation for labor constraints to limit earnings upside despite favorable pricing dynamics, he expects valuation to limit downside, Fowler added.
Knight-Swift price target raised to $70 from $60 at Morgan Stanley » 07:4807/2207/22/21
Morgan Stanley analyst…
Morgan Stanley analyst Ravi Shanker raised the firm's price target on Knight-Swift to $70 from $60 and keeps an Overweight rating on the shares. The company's Q2 EPS and EBIT beat his estimates and consensus, driven by better than expected revenues, while the company's "very strong" fiscal year guidance and commentary provide "evidence that refutes the supply-side bear case," Shanker tells investors.
Knight-Swift price target raised to $80 from $75 at Deutsche Bank » 07:0607/2207/22/21
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra raised the firm's price target on Knight-Swift to $80 from $75 and keeps a Buy rating on the shares. The analyst views the company's Q2 results as indicative of the structural change occurring in the truckload industry.