Is Knight-Swift More Than What Meets The Eye? Morgan Stanley Reinstates As Top Pick
Portfolio Pulse from Shivani Kumaresan
Morgan Stanley analyst Ravi Shanker has reiterated an Overweight rating on Knight-Swift Transportation Holdings Inc (NYSE:KNX) and raised the price target from $70 to $75. The company reported better-than-expected Q3 FY23 earnings results, beating revenue consensus and EPS estimates. Despite a decline in Trucking EBIT and Logistics revenues, the company's performance was better than feared. The management lowered the high-end of FY23 guidance, but the analyst believes this was driven by non-core items and was much better than feared. The analyst reinstated KNX as the Top Pick.
October 20, 2023 | 5:18 pm
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Morgan Stanley analyst reinstates Knight-Swift Transportation Holdings Inc (NYSE:KNX) as Top Pick and raises price target, indicating positive outlook.
The analyst's positive rating and raised price target indicate a positive outlook for the company. The better-than-expected Q3 FY23 earnings results and the analyst's reinstatement of KNX as the Top Pick are likely to have a positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100