Knight-Swift Transportation rises on brokerage upgrades, Q3 earnings beat

Knight-Swift Transportation Holdings

20/10/2023 12:09

** Shares of freight transportation firm Knight-Swift
Transportation Holdings  KNX.N  rise 17.8% to $54.05 in
premarket trading
    ** Brokerage J.P.Morgan upgrades KNX to "neutral" from
"underweight"; raises target price to $57 from $54
    ** KNX "remains one of the best in class when it comes to
leveraging trends in the spot market throughout the truckload
rate cycle" - J.P.Morgan 
    ** Brokerage BofA Global Research raises price objective to
$65 from $61
    ** On Thursday, co posted Q3 adjusted earnings of 41 cents​​
per share versus analysts' estimates of 36 cents per share -
LSEG data
    ** Fourteen of 19 brokerages rate the stock "buy" or higher,
four "hold" and one "sell"; their median PT is $60.50 - LSEG
    ** Up to Thursday's close, stock had fallen 12.4% YTD

 (Reporting by Juby Babu in Bengaluru)
 ((Juby.Babu@thomsonreuters.com;))