Schneider downgraded to Market Perform from Outperform at Raymond James

Raymond James analyst David Hicks downgraded Schneider National (SNDR) to Market Perform from Outperform without a price target The firm believes the stock’s “more defensive, less-cyclical profile is becoming a relative disadvantage at this stage of the cycle.” Schneider’s 2026 outlook came in below consensus, the analyst tells investors in a research note. Raymond thinks the combination of “lagged” earnings realization, competitive pressure in dedicated, and a valuation that already discounts a better earnings path than its mid-cycle math supports creates a more balanced risk/reward for the shares.