UPDATE: J.P. Morgan Color On KNX Target Decrease

J.P. Morgan, which lowered its PT on shares of Knight Transportation Inc. KNX, is providing some color on the stock. “KNX's 1Q11 EPS was significantly below expectations due to a combination of factors including softness in the Western truckload market, rising fuel prices, and a variety of cost pressure,” J.P. Morgan writes. “While we believe that a number of the headwinds during 1Q are likely to be short lived, it may take a few quarters for KNX to regain significant EPS momentum. We suspect that upside for KNX stock in the near term is likely to be muted.” Knight Transportation closed Wednesday at $18.18.