Knight-Swift upgraded to Neutral from Sell at Citi

Citi upgraded Knight-Swift (KNX) to Neutral from Sell with an unchanged price target of $53. The shares have fallen 20% since their January 27 peak, including an outsized selloff on Friday, which was not driven by any fundamental factors, the analyst tells investors in a research note. The firm says that while it remains concerned about downside risk to first half of 2025 earnings given rate pressure, the drop in its share price has pushed Knight-Swift below its target price, leading to a more balanced risk/reward. Citi also believes the management team has been adept at capitalizing on transport cycles.