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Fly News Breaks for December 20, 2019
KNX
Dec 20, 2019 | 09:13 EDT
Baird analyst Benjamin Hartford noted Knight-Swift negatively preannounced Q4 results citing a weak seasonal demand peak during the quarter. The analyst said the weakness is reflective of industry fundamentals that haven't yet bottomed, but he expects supply rationalization to help support a trough in the current freight cycle. As a result, he would be a buyer on weakness. Hartford reiterated his Outperform rating and $40 price target on Knight-Swift shares.