BofA analyst Ken Hoexter downgraded Schneider National to Neutral from Buy with a price target of $24, down from $35 following the company’s Q3 report. An elongated correction has extended the pricing impact and the Q4 bar needs to be reset, the analyst tells investors. Truckload pricing has firmed, but an inflection is not anticipated until at least the first half of 2024, the analyst added.
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