- UBS analyst Thomas Wadewitz upgraded Knight-Swift Transportation Holdings Inc KNX to Buy from Neutral and upgraded the price target to $65 (an upside of 17%), from $51.
- Wadewitz mentions that the company's non-truckload business is expanding faster than anticipated, and its "strong" free cash generation provides a potential for further diversification through acquisitions.
- He believes the "strong performance" in Knight-Swift's non-TL businesses and acquisitions can translate into a "changing valuation framework that supports a favorable" reward/risk for the shares.
- Also read: Analysts Bump Up Knight-Swift Transportation's Price Target After Q3 Results.
- Price Action: KNX shares closed lower by 1.4% at $55.48 on Monday.
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