Benchmark upgraded its target price for Knight-Swift Transportation, Inc. (NYSE: KNX) to $65.00 from the previous $60.00 on Friday, while holding onto a Buy recommendation. At $59.44, Knight-Swift’s stock price is nearing this revised target, trading within roughly 3.4% of that mark and approaching a 52-week high of $61.51. According to InvestingPro analysis, the stock currently appears fairly valued in the marketplace.
Analysts at Benchmark recognized Knight-Swift’s dominant status as the largest one-way for-hire truckload carrier, a positioning that is expected to allow the firm to reap disproportionate benefits as the freight market eventually recovers. This optimistic outlook complements the stock’s solid recent performance, which includes a 31.18% gain in the last six months and a 13.7% increase since the beginning of the year, based on InvestingPro data.
Further supporting growth, Benchmark highlighted the potential for meaningful margin improvements driven by ongoing structural cost reduction initiatives. Additionally, there is potential for enhanced operating leverage if freight volumes increase, particularly within the company’s USX business segment.
Benchmark did note, however, an anticipated near-term decline in performance during the first quarter due to typical seasonal weaknesses affecting truckload service demand.
Despite these short-term pressures, the Buy stance remains firm. The firm emphasized Knight-Swift's leadership as the largest one-way truckload carrier as a significant advantage set to pay off when market conditions improve.
In related news, Knight-Swift reported its earnings for the fourth quarter of 2025, posting an adjusted earnings per share (EPS) of $0.31. This fell short of various analyst expectations, which ranged from $0.34 to $0.37, and below the consensus estimate of $0.35. Nevertheless, the company’s revenue matched analysts' forecasts at $1.9 billion.
Following the earnings release, several firms adjusted their price targets for Knight-Swift. Stephens lowered its target to $63, maintaining an Overweight rating while citing weaker than expected performance in non-reportable segments. Benchmark reiterated its Buy rating with a $60 target, attributing the shortfall to lower revenue in the Truckload and Less-Than-Truckload business segments. UBS increased its price target to $54, maintaining a Neutral rating and noting that Truckload operating income was below expectations. Furthermore, Stifel lowered its target to $61, retaining a Buy rating, and pointed to soft demand as a cause.