Jordan Alliger, an analyst at Goldman Sachs, updated the shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) from Neutral to Buy, significantly raising the target price to $65 from a previous target of $45.
This upside of around 47% is based on the lower P/E multiple of 16.5x, a decline from around 20x. The company’s recent earnings exhibited an EPS of $0.28, surpassing both the Benchmark’s estimate and the consensus estimate of $0.24.
A row of semi-trucks, highlighted against an expansive sky.
Similarly, Citi has raised the price target for Knight-Swift Transportation Holdings Inc. to $53. The consistent Buy rating given to the stock is driven by the potential benefits from strict freight market conditions. UBS, too, sees upside potential in the company. With a Buy rating and a price target of $46, the firm believes the much-anticipated truckload market rebound will drive the company’s future.
Despite risks like slower-than-expected volume growth, issues in surging contract rates, inflationary cost pressures, and tariff-related risks, the analysts advise investors to monitor the company’s challenges while making the most of the opportunities that resulted in the company’s landing in a much more favorable position.
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