Logistics firm Schneider National falls after BofA cuts to 'underperform'

Schneider National

22/07/2024 14:27

** Transportation and logistics services company Schneider
National's  SNDR.N  shares fall 2% to $24.05 premarket
    ** BofA cuts rating on company's shares to "underperform"
from "neutral" 
    ** "Our downgrade is led by continued rate/demand weakness
and inflationary cost pressures, and as shares have run past our
target valuation" - brokerage
    ** Brokerage maintains PT of $23, representing a 6% downside
to stock's last close
    ** 6 brokerages rate the stock "buy" or higher, 8 "hold" and
1 "sell"; median PT $24.50 - LSEG
    ** Schneider National shares down 3.6% YTD

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