SNDR - Citi moves to the sidelines on three truckers while turning bullish on ArcBest

Citi turns cautious on trucking names on what it calls euphoria over 2021 estimates and with spot rate seen topping out in 2021.The firm lowers Knight-Swift Transportation ([[KNX]] +1.8%), Schneider National ([[SNDR]] +0.9%) and Werner Enterprises ([[WERN]] +1.5%) to Neutral from Buy. Price target drops from Citi on KNX to $46 from $50, on SNDR to $22 from $30 and on WERN to $45 from $52 are also on the books. Citi does like the setup for less-than-load freight carriers and upgrades ArcBest ([[ARCB]] +10.5%) to a Buy rating. ArcBest also has one of the top Seeking Alpha Quant Ratings in the trucking sector.

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Citi moves to the sidelines on three truckers while turning bullish on ArcBest