Morgan Stanley lowered the firm’s price target on Knight-Swift to $80 from $88 and keeps an Overweight rating on the shares. The company’s "big" Q1 miss and guidance reset were "disappointing, even in the context of the ongoing downcycle," but they should also serve to reset expectations and the bar, says the firm, which contends that normalized EPS is "still well above what is currently priced into the stock."
Published first on TheFly
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