Market Overview

UPDATE: KeyBanc Upgrades Knight Transportation to Buy, Names $19 PT on Underappreciated Dynamics

Share:
Related KNX
Credit Suisse Just Called A Bottom In Rails, Goes Overweight On Trucks
Benzinga's Top Upgrades

In a report published Monday, KeyBanc upgraded its rating on Knight Transportation (NYSE: KNX) from Hold to Buy, and named a $19.00 price target.

KeyBanc noted, “We view KNX as a best in-class truckload carrier positioned to benefit from a more disciplined approach to pricing and fleet growth into 2013, as well as controlling costs and leveraging new service offerings. In our view, these dynamics are underappreciated and should become more apparent in coming quarters, particularly as comparisons ease in 2H13. Longer term, we believe organic growth, expanded service offerings, and potential acquisitions support above market growth, while its low cost model should drive industry leading margins and returns. Combined with our more constructive truckload outlook, the Company's long-term operational track record, and a strong balance sheet, we believe valuation is attractive relative to historical levels.”

Knight Transportation closed on Friday at $15.86.

Latest Ratings for KNX

DateFirmActionFromTo
Jul 2015BairdMaintainsNeutral
Jul 2015MacquarieMaintainsOutperform
Jul 2015BarclaysMaintainsOverweight

View More Analyst Ratings for KNX
View the Latest Analyst Ratings

Posted-In: KeyBancAnalyst Color Upgrades Analyst Ratings

 

Related Articles (KNX)

Get Benzinga's Newsletters