After Covenant Logistics reported Q1 adjusted EPS "well above" the consensus forecast, Stephens analyst Jack Atkins noted that the company highlighted challenging market conditions, particularly within its brokerage operations, but says that the company’s asset-based businesses "continued to perform well." The firm, which adds that it is "encouraged" to see Covenant deploy capital towards growth and diversification in the more stable dedicated market, has an Overweight rating on shares and noted that its estimates and $50 price target are under review.
Published first on TheFly
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