Knight Transportation (KNX) PT Raised to $70 at Stifel

Stifel analyst J. Bruce Chan raised the price target on Knight Transportation (NYSE: KNX) to $70.00 (from $63.00) while maintaining a Buy rating.

The analyst commented, "Knight-Swift announced 1Q26 adjusted EPS of $0.09, which was consistent with last week's pre-release range of $0.08-$0.10 (see here). Most, if not all of the issues driving the lower-thanexpected pre-announcement were one-offs, in our view, including insurance claims, weather, and tax issues; investors appear to be looking through the first quarter to management's positive commentary on cycle direction. Supply attrition—both organic and regulation-induced—seems to be accelerating, and we think episodic capacity shocks like produce season (underway), DOT road check week (May), and the Spring freight peak could make spot rates more susceptible to outsized moves. Meanwhile, demand has started to materialize off the bottom, which we believe would be very helpful in driving a cycle inflection if sustained. As the "tip of the whip" transport cycle beneficiary, we see good opportunity for the Truckload group, with Knight-Swift, the largest public, for-hire, over the road fleet at the vanguard."

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