- Susquehanna analyst Bascome Majors upgraded Schneider National Inc SNDR to Positive from Neutral and raised the price target to $32 (an upside of 19.5%), from $29.
- Majors noted there is an attractive risk/reward in buying truckload names "already priced for a deep freight recession."
- 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 Majors.
- Price Action: SNDR shares are trading higher by 1.27% at $26.79 during the premarket session on Friday.
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