UPDATE: Dahlman Rose Upgrades Swift Transportation Co. to Buy, Establishes $12 PT
In a report published Monday, Dahlman Rose & Co. upgraded its rating on Swift Transportation Co. (NYSE: SWFT) from Hold to Buy and established a $12.00 price target.
Dahlman Rose noted, “We are upgrading SWFT shares to Buy, from Hold. We believe truckload industry fundamentals are improving and fuel may not be as big a headwind as it was in 3Q12 - two factors that should aid the company in delivering solid 4Q12 results, probably beating Street expectations, which had been largely formed amidst more uncertain conditions. Additionally, valuation remains compelling despite Friday's 5% run. Being the most levered in the space affords SWFT shares the highest appreciation potential during a positive turn in industry dynamics.”
Swift Transportation Co. closed on Friday at $8.87.
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