Forward Air price target lowered to $40 from $50 at Baird

Baird lowered the firm’s price target on Forward Air to $40 from $50 and keeps a Neutral rating on the shares. The firm said the last few quarters were a tumultuous stretch as the company triggered significant strategic, financial, and leadership changes during the trough of a freight recession. Significant risk remains with the Omni integration, and earnings visibility is clearly very low.