Knight Transportation (KNX) PT Lowered to $61 at BofA Securities

BofA Securities analyst Ken Hoexter lowered the price target on Knight Transportation (NYSE: KNX) to $61.00 (from $64.00) while maintaining a Buy rating.

The analyst comments "We lower our 4Q24, 2024, 2025, and 2026 EPS estimates 10%, 3%, 8%, and 5%, to $0.32 (the bottom of the company’s $0.32-$0.35 target range), $1.07, $1.90, and $3.40, from $0.35 (the high end of the company’s range), $1.10, $2.05, and $3.60, respectively. Our 1Q25 EPS estimate falls to $0.30 from $0.34, toward the bottom of its $0.29-$0.33 target range. Our reduction is driven mainly by a slower flow-through of truckload rates. We had previously expected mid-single digit revenue/total mile increases through the year, which we now expect will start at a low-single-digit growth rate and build thru ‘25."

You May Also Be Interested In

• Seaport Global Securities Starts ADI Global Distribution (ADIG) at Buy
• QXO (QXO) Reiterated at Buy by Benchmark Amid Muted Industry Demand
• Belite Bio (BLTE) Reiterated at Buy by Benchmark on Tinlarebant NDA Acceptance by FDA