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Knight-Swift price target lowered to $67 from $70 at BofA
The Fly

Knight-Swift price target lowered to $67 from $70 at BofA

BofA analyst Ken Hoexter lowered the firm’s price target on Knight-Swift to $67 from $70 and keeps a Buy rating on the shares. Knight-Swift sees a persistent deceleration in demand, which led to volume and pricing pressures and lead it to reduce its FY23 EPS range to $3.35-$3.55 from $4.05-$4.25, "moving well below its prior $4 EPS ‘floor’," the analyst tells investors. Though rising demand pressures may negatively impact earnings and the firm has lowered its FY23, FY24, and FY25 EPS estimates, BofA argues that Knight-Swift "remains the leading operator ahead of a rebound," with capacity exits accelerating.

Published first on TheFly

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