TD Cowen lowered the firm’s price target on Knight-Swift to $52 from $58 and keeps a Buy rating on the shares. The firm said preliminary 1Q results significantly missed Cowen’s already below consensus estimates and 2Q guide is halved from prior levels. the company has seen TL contract losses amid an aggressive bid season and has raised spot exposure to support utilization and third party insurance business was hit in 1Q but has been wound down.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KNX:
- Knight-Swift price target lowered to $58 from $64 at BofA
- Knight-Swift price target lowered to $55 from $67 at Wolfe Research
- Knight-Swift price target lowered to $60 from $62 at JPMorgan
- Knight-Swift price target lowered to $62 from $65 at Barclays
- Knight-Swift price target lowered to $59 from $62 at Susquehanna
