Stifel upgraded Knight-Swift (KNX) to Buy from Hold with a price target of $45, down from $47. The stock’s valuation is positioned to inflect as freight supply fundamentals have likely bottomed, the analyst tells investors in a research note. Stifel is beginning to see early signs of regulatory pressure on driver supply. Knight-Swift’s cost savings and pivot into less-than-truckload should help support the company’s earnings and valuation, contends the firm.
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