Susquehanna analyst Bascome Majors lowered the firm’s price target on Knight-Swift to $51 from $53 and keeps a Neutral rating on the shares. The firm lowered its estimates to reflect their recent negative pre-announcement and noted they have not yet integrated the recently closed USX acquisition but there are a wide range of outcomes for a deeply challenged truckload carrier in this worse-than-feared truckload market.
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Read More on KNX:
- Knight-Swift downgraded to In Line from Outperform at Evercore ISI
- Knight-Swift cuts FY23 adjusted EPS view to $2.10-$2.30 from $3.35-$3.55
- Knight-Swift reports Q2 adjusted EPS 49c, consensus 57c
- Knight Transportation options imply 3.7% move in share price post-earnings
- Knight-Swift price target lowered to $60 from $63 at Stifel