Knight-Swift price target lowered to $57 from $62 at Barclays

Barclays lowered the firm’s price target on Knight-Swift to $57 from $62 and keeps an Overweight rating on the shares. While soft Q1 results were expected, the company’s updated guidance sheds light on the magnitude of the supply challenges facing the truckload sector, the analyst tells investors in a research note. However, the firm says the market appears more focused on less-than-truckload, with flat Q2 margin guidance perhaps calling into question expectations for operating ratio improvement at larger competitors.