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Knight-Swift Transportation is the favorite trucker of Morgan Stanley

Knight-Swift Transportation is the favorite trucker of Morgan Stanley

Sep. 17, 2020 9:36 AM ET|About: Knight-Swift Transportati… (KNX)|By: Clark Schultz, SA News Editor 

Knight-Swift Transportation (KNX -0.6%) is one of the five industrial stocks that Morgan Stanley thinks is undervalued.

“We don’t think traditional wisdom applies to this cycle as supply headwinds should limit the typical capacity surge as the market heats up. This should meaningfully raise the floor/peak on rates and limit the downside when the cycle does roll, which we don’t expect until well into 2021 at the earliest. KNX fundamentals and valuation have room to run until then.”

Knight-Swift is called the firm’s favored way to play the overall bullish view on truckload fundamentals.

Morgan Stanley has a Buy rating on KNX and price target of $55.

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