New York, September 21 (FinanceEnquiry.com) – Analysts at Stifel Nicolaus reiterate their BUY rating on the shares of Swift Transportation Company (NYSE: SWFT). The 12-month target price has marginally been reduced from $16 to $15.
In a research note published on September 20, the analysts mention that as the reasons for the improvement of anticipated results of 3Q12, the increase in fuel prices seen in 3Q12 is more than its expectations and the softer freight environment has been noticed by Swift Transportation Company.
Furthermore, at the end of August and starting of September, it has also been noticed that the trucking market has not seen as robust a cyclical increase as it historically would, was echoed by Swift Transportation Company in its comments made yesterday.
In addition to this, generating a near-term headwind for Swift Transportation Company, since the beginning of the quarter, prices of diesel have augmented by 13 percent, or approximately $0.50 and are high over 7 percent y/y so far for the month of September, the analysts add further.
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