Aug. 7, 2013, 2:24 PM
- Swift Transportation (SWFT +0.2%) shares are stuck in neutral, as the trucker's purchase of a refrigerated trucking business owned by Swift CEO Jerry Moyes raises eyebrows.
- SWFT stresses the deal was the result of a lengthy, thorough review by a special board committee assisted by advisers from Lazard and law firm Baker Botts, but Moyes hasn’t been available for comment.
- Baird lifts its SWFT target price to $20 to reflect expected $0.10/share accretion; Wells Fargo sets its target at $21-$22, seeing the acquisition as a nice strategic and economic fit.
Aug. 7, 2013, 7:57 AM| Comment!
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Swift Transportation Co is a multi-faceted transportation services company and a truckload carrier in North America. The Company's four reportable operating segments consist of Truckload, Dedicated, Central Refrigerated and Intermodal.
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