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Economists are expecting the U.S. economy to start ramping back up in the first half of 2020, and that rebound is good news for the trucking industry moving forward.
The Analyst: On Thursday, Bank of America analyst Ken Hoexter issued the following upgrades to trucking stocks:
J B Hunt Transport Services Inc (NYSE: JBHT) upgraded from Neutral to Buy, price target raised from $151 to $171.
Knight-Swift Transportation Holdings Inc (NYSE: KNX) upgraded from Neutral to Buy, price target raised from $46 to $52.
Schneider National Inc (NYSE: SNDR) upgraded from Neutral to Buy, price target raised from $24 to $28.
US Xpress Enterprises Inc (NYSE: USX) upgraded from Neutral to Buy, price target raised from $7.50 to $12.