Knight-Swift downgraded to Neutral at BofA after estimate cuts

BofA downgraded Knight-Swift (KNX) to Neutral from Buy with a price target of $46, down from $66. The firm lowered its Q1, Q2, 2025, and 2026 EPS estimates 35%, 20%, 17%, 11%, respectively, as weather in early Q1 blended into shipper paralysis in late Q1 given lack of freight flows surrounding tariff implementation. The firm notes that its estimates are now “well below” Knight-Swift’s Q1 and Q2 target ranges and consensus for those quarter.