Wunderlich Securities Sees Swift Transportation Getting Back On Track In 3Q14

Courtesy of Benzinga.

In a report published Monday, Wunderlich Securities analyst Nicholas J. Bender reiterated a Buy rating and $30.00 price target on Swift Transportation Co (NYSE: SWFT).

In the report, Wunderlich Securities noted, “Swift Transportation (SWFT) reported 3Q14 results Thursday morning, and adjusted EPS of $0.39 beat the Street’s $0.35 forecast. This number included some benefit from higher gains on sale and accelerated tax credits, but combined with constructive 4Q14 and FY15 guidance, the result served to assure investors that SWFT shares remain a viable way to play improved truckload trends. Since the ugly 2Q14 announcement, we’ve held that SWFT shares suffered more from asymmetric investor sentiment than from any specific operational overhang. With trends for the company now poised to improve heading into the seasonally strong 4Q14, we believe the company can regain consistency heading into FY15. We reiterate our Buy rating and $30 price target.”

Swift Transportation Co closed on Friday at $23.88.

Posted-In: Nicholas J. Bender Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings