KeyBanc Upgrades (SWFT) (KNX) (HTLD) and (MRTN) to Buy

February 11, 2013 7:59 AM EST
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Price: $23.83 --0%

Rating Summary:
    17 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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KeyBanc upgraded Swift Transportation (NYSE: SWFT), Knight Transportation, Inc. (NYSE: KNX), Heartland Express, Inc. (NASDAQ: HTLD) and Marten Transport, Ltd. (NASDAQ: MRTN) from Hold to Buy with price target of $18, $19, $16, and $25 respectively. The firm also reiterate Buy ratings on Werner Enterprises, Inc. (NASDAQ: WERN) and Celadon Group, Inc. (NYSE: CGI).

The firm cited: 1) increased confidence in low single-digit rate increases following management and channel commentary; 2) expected re-acceleration in freight activity from improved housing-related and manufacturing end-markets; and 3) limited near or intermediate-term capacity expansion based on capex projections and regulatory changes.

"We maintain our current estimates with a positive bias; however, with valuation near the low end of historical ranges, we believe shares adequately discount pricing concerns, supporting multiple expansion as confidence in current estimates improves in a stable freight environment."

WERN is their top truckload idea; they believe SWFT is best suited for accounts with a higher risk tolerance; MRTN is their favorite small-cap value idea.

For an analyst ratings summary and ratings history on Swift Transportation click here. For more ratings news on Swift Transportation click here.

Shares of Swift Transportation closed at $13.94 yesterday.

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