Market Overview

UPDATE: Deutsche Bank Raises PT on Knight Transportation on Expected Growth Recovery

Related KNX
Wunderlich Transfers Coverage, Upgrades JB Hunt, Saia, Downgrades Con-way, Knight Transportation
U.S. Industrial Stocks With Low P/CF: Investment Idea Of The Day

In a report published Monday, Deutsche Bank analyst Justin Yagerman reiterated a Hold rating on Knight Transportation (NYSE: KNX), and raised the price target from $15.00 to $19.00.

In the report, Deutsche Bank noted, “We have introduced our 2015 EPS estimates and adjusted our 2013-14E earnings estimates to incorporate DB's House view as we expect slow growth to continue well into 2014. However, this is not a bad environment for earnings growth as cost inflation is generally modest (excluding TL where new government regulations, a tight market for qualified drivers, and more expensive equipment are driving above-average cost increases) and volumes are expanding, albeit at a slower-than-desired pace. DB expects economic growth to accelerate in H2 2014 on the strength of housing, which should help drive freight demand. Our new price targets are derived using a forward P/E multiple on our CY2015E EPS estimates.”

Knight Transportation closed on Friday at $17.80.

Posted-In: Deutsche Bank Justin YagermanAnalyst Color Price Target Analyst Ratings


Most Popular

Related Articles (KNX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free