Knight-Swift rises as Raymond James resumes coverage with 'strong buy'

Knight-Swift Transportation Holdings

15/05/2024 14:20

** Shares of freight transport company Knight-Swift
Transportation  KNX.N  rise 2% to $50.50 premarket
    ** Raymond James resumes coverage of stock with "strong buy"
rating, PT of $58
    ** Brokerage sees KNX as "one of the most idiosyncratic
stories" in its transport coverage due to co's entrance into the
less-than-truckload freight market amid supply constraints 
    ** Expects KNX to leverage scale from U.S. Express
acquisition and exit its third-party insurance business, helping
derisk co from headwinds in trucking industry
    ** Eleven brokerages rate stock "buy" or higher, six "hold"
and one "sell"; their median PT is $56 - LSEG data
    ** Stock has fallen 14.2% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))