UPDATE: Citigroup Maintains Buy Rating, Lowers PT for Swift Transportation

In a company update published earlier today, Citigroup Inc. maintained its Buy rating for Swift Transportation Co. LL, but slightly lowered its price target from $14.50 to $14.00. Citigroup went on to say “Looking forward, expectations regarding Swift, and Truckload in general, have become more measured given weaker March volumes that did not build quite as strongly as some expected, which could ultimately provide an upside to multiples if volumes trend in a normalized fashion heading into the summer.” Swift Transportation Co. closed at $10.10.