Citi downgraded Schneider National (SNDR) to Sell from Neutral with an unchanged price target of $27. The firm believes “significant optimism” is now priced into trucking stocks. With the share rallies brining valuation multiples to “historically-elevated levels,” Citi is turning more cautious on the truckers. It downgrade four names, saying that “cycle inflection” underway is now largely priced in.
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Read More on SNDR:
- Balanced Risk/Reward Keeps Schneider National at Hold Amid Soft Freight Cycle and Limited Upside Leverage
- Schneider National downgraded to Hold from Buy at Stifel
- Schneider National’s Earnings Call: Pain Now, Positioning Ahead
- Schneider National price target lowered to $30 from $31 at TD Cowen
- Schneider National price target lowered to $25 from $26 at UBS