Baird lowered the firm’s price target on Forward Air to $75 from $80 and keeps a Neutral rating on the shares. The firm said Q3 results were weaker and the company maintains that the conditions for closing the Omni acquisition have not been met and terminating the deal is now within its rights. Breaking the Omni deal would be a clear positive and help the company refocus on its core LTL business.
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Read More on FWRD:
- Omni Logistics files lawsuit against Forward Air to enforce merger pact
- Forward Air sees Q4 adjusted EPS 98c-$1.02, consensus $1.13
- Forward Air reports Q3 adjusted EPS 99c, consensus $1.11
- FWRD Upcoming Earnings Report: What to Expect?
- Forward Air considering Omni deal break a positive for stock, says Stephens
