BofA raised the firm’s price target on Knight-Swift to $65 from $61 and keeps a Buy rating on the shares after the company reported better-than-expected Q3 results that were driven by the carrier’s accelerated integration of US Xpress. Given the company’s past success in integrating Swift, the firm views its path to ramp USX returns as a positive catalyst to drive earnings leverage, the analyst tells investors in a post-earnings note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on KNX:
- Knight-Swift (NYSE:KNX) Soars as Q3 Results Beat Estimates
- Knight-Swift upgraded to Neutral from Underweight at JPMorgan
- Knight-Swift jumps 16% to $53.48 after Q3 results beat estimates
- Knight-Swift narrows FY23 adjusted EPS view to $2.10-$2.20 from $2.10-$2.30
- Knight-Swift reports Q3 adjusted EPS 41c, consensus 36c