Evercore ISI lowered the firm’s price target on Knight-Swift (KNX) to $42 from $47 and keeps an In Line rating on the shares. Despite a few modest upward adjustments, transports are facing a challenging environment with weak volumes and stagnant pricing in TL and intermodal remaining hurdles and multiple downward estimate revisions for Q3 and beyond, the analyst tells investors in a note on the surface transportation group.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KNX:
- Amazon upgraded, Adobe downgraded: Wall Street’s top analyst calls
- Knight-Swift price target lowered to $41 from $49 at BofA
- Susquehanna downgrades Knight-Swift on delayed margin recovery
- Knight-Swift downgraded to Neutral from Positive at Susquehanna
- Tesla’s big pay proposal for Musk, Wall Street sours on Lululemon: Morning Buzz