KNX - Is Knight-Swift More Than What Meets The Eye? Morgan Stanley Reinstates As Top Pick | Benzinga
Morgan Stanley analyst Ravi Shanker reiterated an Overweight rating on the shares of 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, with a revenue of $2.02 billion, beating the consensus of $1.89 billion. Adjusted EPS of $0.41 exceeded the estimate of $0.36.
Trucking EBIT, the analyst said, did decline materially y/y (~66%), but this was much better than feared. This likely reflected a combination of USX trending better than expected but also some outperformance in the base business, which management noted was able ...