UBS lifts Knight-Swift Transportation to 'buy' on tightening truckload market

Shares of freight transport company Knight-Swift Transportation KNX.N marginally up after UBS upgrades to "buy" from "neutral"

Brokerage views KNX as the best‑positioned among truckload peers to benefit from rising rates and attrition in truckload supply

Adds that the acceleration in monthly attrition, which commenced in October, provides visibility to supply reduction, while the step up in truckload spot rates from December also provides evidence of a tightening market

UBS also raises PT to $66 from $54, a 26% upside to the stock's last close

15 of 21 analysts rate stock "strong buy" or "buy", five "hold" and one "sell"; their median PT is $64 - data compiled by LSEG

Including session's move, KNX down 0.6% YTD