BofA lowered the firm’s price target on Knight-Swift (KNX) to $61 from $64 and keeps a Buy rating on the shares. The firm lowers its Q4, Q1, 2024, 2025, and 2026 EPS estimates, driven mainly by a slower flow-through of truckload rates. BofA had previously expected mid-single digit revenue and total mile increases through the year, which it now expects will start at a low-single-digit growth rate and build thru 2025, the analyst tells investors.
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Read More on KNX:
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- Knight-Swift downgraded to Sell from Neutral at Citi
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