U.S. Xpress Enterprises: Hits 2-month high on Stifel upgrade

US Xpress Enterprises

15/10/2020 19:31

** U.S. truckload carrier's shares  USX.N  rise as much as
13% to near 2-month high of $11.28
    ** Stifel upgrades to "buy" from "hold", raises PT by $3 to
$14, a 24% upside to Thursday's high
    ** Cites tight capacity in the truckload market amid
economic recovery after easing of COVID-19 lockdowns
    ** Analyst David Ross expects co to disproportionately
benefit from higher spot rates in the near term and from rising
contract rate environment that may carry into 2021     
    ** Execution has always been an issue with USX, but if we're
right about the cycle, margins should go higher enough to bring
investors back to this stock - Ross
    ** 4/6 brokerages rate the stock "buy" or higher and 2
"hold"; median PT is $12
    ** YTD, the stock has more than doubled

 (Reporting by Ankit Ajmera in Bengaluru)
 ((ankit.ajmera@thomsonreuters.com))