GXO - Susquehanna sees abundant opportunity in logistics and trucking

Despite underwhelming returns as of late and late-cycle fears, Susquehanna analyst Bascome Majors is voicing bullishness on the road ahead for trucking and logistics names. In a sweeping upgrade note, Majors moved his ratings upward to positive for J.B. Hunt Transport (NASDAQ:JBHT), Hub Group (HUBG), Werner Enterprises (WERN) while assigning positive initial ratings to Knight-Swift Transportation Holdings (KNX), TFI International (TFII), Schneider National (SNDR), XPO Logistics (XPO), Forward Air Corporation (FWRD), Saia, Inc. (SAIA), and GXO Logistics (GXO). Though it is worth noting, his rating remained Neutral on Landstar System (LSTR), CH Robinson Worldwide (CHRW), and Old Dominion Freight Line (ODFL). “In early March, we upgraded asset-based truckload carriers [Knight-Swift Transportation Holdings] (KNX) and [Schneider National] (SNDR) on our view that a freight recession was already more than priced in,” Majors explained. “But since then most trucking-related transports continued to underperform as the trade press and Twitter amplified sub-seasonal near-term

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Susquehanna sees abundant opportunity in logistics and trucking