Wells Fargo Maintains Overweight Rating for Knight-Swift: Here's What You Need To Know


Wells Fargo has decided to maintain its Overweight rating of Knight-Swift KNX and raise its price target from $55.00 to $60.00.

Shares of Knight-Swift are trading up 2.77% over the last 24 hours, at $54.52 per share.

A move to $60.00 would account for a 10.05% increase from the current share price.

About Knight-Swift

Knight-Swift Transportation is by far the largest full-truckload carrier in the United States, but its service offering is quite diversified. About 71% of revenue derives from its asset-based trucking business, with full-truckload (including for-hire dry van, refrigerated, and dedicated contract) making up 58% of total top line and less-than-truckload at 13%. Truck brokerage and other asset-light logistics services make up 15% of revenue, with intermodal near 8%. Knight's intermodal operations use the Class-I railroads for the underlying movement of its shipping containers and also include drayage. The remainder of revenue reflects various services offered to shippers and third-party truckers including insurance, equipment maintenance, and equipment leasing.

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Posted In: Analyst RatingsBZI-AAR-UPDATE
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