Covenant Logistics upgraded to Peer Perform at Wolfe Research

As previously reported, Wolfe Research analyst Scott Group upgraded Covenant Logistics to Peer Perform from Underperform with no price target. Covenant has repurchased roughly 20% of its shares outstanding since the end of 2019 and when combining this with less spot exposure and less overall exposure to expedited truckload, its EPS is "holding up a lot better than we previously expected," Group tells investors.