Benzinga | Oct 25, 2021 04:18PM EDT

UBS Hikes Knight-Swift Price Target By 27%

* UBS analyst Thomas Wadewitz upgraded Knight-Swift Transportation Holdings Inc (NYSE:KNX) to Buy from Neutral and upgraded the price target to $65 (an upside of 17%), from $51.

* Wadewitz mentions that the company's non-truckload business is expanding faster than anticipated, and its "strong" free cash generation provides a potential for further diversification through acquisitions.

* He believes the "strong performance" in Knight-Swift's non-TL businesses and acquisitions can translate into a "changing valuation framework that supports a favorable" reward/risk for the shares.

* Also read: Analysts Bump Up Knight-Swift Transportation's Price Target After Q3 Results.

* Price Action: KNX shares closed lower by 1.4% at $55.48 on Monday.