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Fly News Breaks for December 5, 2019
Dec 5, 2019 | 05:36 EDT
Goldman Sachs analyst Jordan Alliger initiated coverage of Knight-Swift with a Buy rating and $45 price target. He also added the shares to his firm's Conviction List. The capacity cycle will tighten during the second half of 2020, which would in turn lead to truck price inflection, Alliger tells investors in a research note. Shares of trucking stocks tend to outperform ahead of an actual inflection in rates as the market anticipates sharp upward profit leverage, adds the analyst. Further, Alliger says Knight's "idiosyncratic positives augment the macro recovery story."
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