BofA lowered the firm’s price target on Knight-Swift to $54 from $58 and keeps a Buy rating on the shares. After Knight-Swift significantly lowered its Q1 and Q2 guidance on persistent pressure from the elongated freight downcycle, the firm noted that this was the fourth time the company has lowered guidance over the past year. The firm rolled forward its target to 2025, noting that it sees Knight-Swift moving through trough earnings in 2024 and well positioned for the eventual truckload cycle inflection.
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- Knight-Swift price target lowered to $58 from $64 at BofA
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- Knight-Swift price target lowered to $62 from $65 at Barclays
- Knight-Swift price target lowered to $59 from $62 at Susquehanna
