Benchmark Initiates Forward Air With Hold Rating - Forward Air (NASDAQ:FWRD)

Benchmark analyst Christopher Kuhn initiated the coverage of Forward Air Corp FWRD with a Hold rating.
The analyst believes both the LTL and Intermodal segments are in attractive, growing industries. FWRD has several revenue growth opportunities in 2022, which should drive margin expansion.
Kuhn states that the company has successfully improved its freight profile over the last several quarters focusing on only high-value, palletized freight, making the network more efficient.
Related: Raymond James Cuts Forward Air Price Target By 7%
Kuhn believes the near-term growth drivers should produce better than expected FY22 results.
Recently the company announced preliminary EPS guidance of $1.98-$2.12, 25% above the mid-point of original guidance.
The analyst says that the Hold rating reflects caution about the sustainability of some growth and margin trends in 2023.
Price Action: FWRD shares are trading higher by 0.16% at $95.90 on the last check Wednesday.