Why Forward Air's Stock Is Moving

Forward Air Corporation FWRD shares are trading higher by 5.4% at $93.03 after Raymond James upgraded the stock from Outperform to Strong Buy and raised its price target from $100 to $120.

Forward Air is an asset-light freight and logistics company. The company's operating segment includes Expedited Freight, Intermodal, and Pool Distribution. It generates a majority of revenue from the Expedited Freight segment. This segment operates a comprehensive national network to provide expedited regional, inter-regional and national LTL (less-than-truckload) services.