Knight Transportation (KNX) PT Raised to $63 at UBS

UBS analyst Thomas Wadewitz raised the price target on Knight Transportation (NYSE: KNX) to $63.00 (from $58.00) while maintaining a Buy rating.

The analyst commented, "KNX reported upside 4Q24 EPS of $0.36/share compared to Consensus of $0.33 and our estimate of $0.34. Lower tax rate provided a boost of ~$0.03/share while TL OR (190 bp better than our forecast) more than offset LTL OR which was 550 bp worse than our forecast. KNX’s truckload OR performance of 92.2% (170 bp of y/y improvement) was driven by cost side performance as revenue was about 0.4 pp lower than our model. KNX pointed to a reduction in idle tractors and trailers as well as broader cost side measures which drove cost performance. KNX’s 1Q and 2Q EPS guidance are consistent with Consensus which should be supportive for the stock."

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