Wolfe Research analyst Scott Group lowered the firm’s price target on Forward Air to $25 from $31 and keeps an Underperform rating on the shares as part of a Q1 earnings preview for the transport group. Freight volumes improved in Q1 with improved year-over-year port, rail intermodal and global airfreight volumes, along with a positive inflection in the TL Market Demand Index, the analyst tells investors in a research note. That said, the firm expects continued pressure on contractual pricing and overall yield growth, and thus mixed Q1 earnings reports.
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Read More on FWRD:
- Forward Air participates in a conference call hosted by Benchmark
- Forward Air price target lowered to $40 from $50 at Baird
- Forward Air reports Q4 adjusted EPS 81c, consensus 98c
- FWRD Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Forward Air Subsidiary Revises Credit Terms and Repays Loans
