J.P. Morgan Maintains Neutral on Knight Transportation

J.P. Morgan is out with its report on Knight Transportation KNX, maintaining Neutral. In a note to clients, J.P. Morgan writes, "We continue to have a positive view of the truckload pricing cycle which should provide a constructive backdrop for KNX. However, based on the performance in 1Q, it appears that KNX's company specific cost side story may be not be as good as the cost side stories for a number of the other truckload carriers over the next several quarters. We continue to rate KNX Neutral." J.P. Morgan maintains a $19 PT on KNX. Shares of KNX closed Wednesday at $17.42, up 1.46% from Tuesday's close.