UPDATE: Stifel Nicolaus Downgrades Knight Transportation to Hold on Flat Q4 Results
Stifel Nicolaus downgraded Knight Transportation (NYSE: KNX) from Buy to Hold and removed a $17.00 price target.
Stifel Nicolaus noted, "Our 12-month fair value estimate of $16 (or 16.0x our 2014 EPS estimate of $1.03) provides virtually no upside potential over the coming 12-months. With no upside potential over the coming year we are hard pressed to justify a continuation of a Buy rating on the company's common shares. All things remaining equal, we would revisit our new rating should the company's common shares fall to $13 or below."
Knight Transportation closed at $16.04 on Wednesday.
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