- Susquehanna analyst Bascome Majors upgraded Knight-Swift Transportation Holdings Inc KNX to Positive from Neutral and raised the price target of $69 (28% upside), up from $62.
- Majors states that there is an attractive risk/reward in buying truckload names "already priced for a deep freight recession."
- The analyst notes intermodal is in one of its best cyclical and structural periods of the last decade.
- Despite Susquehanna's view of moderate risk to out-year consensus for truckload names, the shares trade at "trough multiples that price in more than enough cushion to absorb a reasonable shift to negative revisions in late 2022 and early 2023," mentioned the analyst.
- Also Read: Susquehanna Bumps Up Schneider National Price Target By 10%
- Price Action: KNX shares are trading lower by 1.44% at $53.97 on the last check Friday.
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