Benzinga | Dec 13, 2021 10:24AM EST

Wells Fargo Bumps Up Knight-Swift Price Target By ~10%

* Wells Fargo analyst Allison Poliniak-Cusic raised the price target on Knight-Swift Transportation Holdings Inc (NYSE:KNX) to $69 (an upside of 13.5%) from $63 and maintained an Overweight rating on the shares.

* The analyst recently spent time with CEO Dave Jackson and walked away with a stronger appreciation for Knight's business model and return profile.

* Poliniak-Cusic believes that Knight-Swift's free cash flow/share will continue to positively evolve, approaching $7 per share exiting 2021, as management not only has a stronghold on managing its network but also is focused on taking on the right business, which she thinks will only further improve returns over the course of a cycle.

* Recently, Stifel and Citi raised the Knight-Swift price target after the Midwest Motor Express deal.

* Price Action: KNX shares are trading lower by 0.30% at $60.78 on the last check Monday.