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Knight-Swift downgraded to Neutral from Buy at UBS

UBS downgraded Knight-Swift (KNX) to Neutral from Buy with a price target of $51, up from $46. The firm believes a pricing inflection the truckload market is now less likely in the near term. Capacity is gradually exiting, but UBS does not see a clear demand catalyst for the mid-single-digit truckload rate increases that is reflected in the 2026 consensus estimates, the analyst tells investors in a research note. The firm sees 10% downside risk to consensus estimates next year and downgraded three truckload names.

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