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Fly News Breaks for January 7, 2020
KNX, CVTI, CHRW
Jan 7, 2020 | 10:00 EDT
Wolfe Research analyst Scott Group is more positive on Transport stocks after his Q4 shipper survey results indicated that full truckload pricing expectations are bottoming and that over-capacity has peaked. The sector has underperformed the S&P 500 for two straight years, and has not underperformed for three straight years since the late 1990s, Group tells investors in a research note. The analyst Class 8 truck production will inflect below replacement levels by Q2 and he now prefers full truckload over less than truckload stocks. As such, Group upgraded both Knight-Swift Transportation (KNX) and Covenant Transportation (CVTI) to Outperform from Peer Perform. The analyst also upgraded C.H. Robinson Worldwide to Outperform from Peer Perform on the belief that the company's net revenue will bottom in Q1 of 2020.
News For KNX;CVTI;CHRW From the Last 2 Days
CHRW
Apr 6, 2020 | 06:36 EDT
Stephens analyst Jack Atkins upgraded C.H. Robinson to Overweight from Equal Weight with a price target of $75, up from $74. Atkins said brokerage models "thrive at extremes" and he believes that C.H. Robinson's variable cost model and limited asset intensity positions the company to weather the economic downturn better than most in the transportation sector.