Fly News Breaks for February 5, 2020
Feb 5, 2020 | 06:35 EDT
Citi analyst Christian Wetherbee left a visit with Knight-Swift Transportation management "quite constructive" on both the trajectory of the truckload freight cycle as well as the company's longer-term prospects. Evidence is growing that Knight has "moved out of its cyclical framework's bottom quadrant and into the 'prepare to thrive' quadrant," Wetherbee tells investors in a research note. He believes truckload cycle has bottomed and that the next upcycle can support earnings of $3 per share for Knight-Swift. This could take the shares toward $60, says Wetherbee, who keeps a Buy rating on Knight-Swift.
News For KNX From the Last 2 Days
Apr 2, 2020 | 06:50 EDT
Citi analyst Christian Wetherbee lowered the firm's price target on Knight-Swift to $38 from $43 and keeps a Buy rating on the shares. The analyst increased Q1 estimates for the truckload carriers saying March played out better than he expected when first lowering estimates on COVID-19. That said, 2020 estimates fall for everyone in Truck and Logistics by 14% on average on expectations Q2 and Q3 will be challenging, Wetherbee tells investors in a research note.