Swift Transportation +4% after J.P. Morgan upgrade

|By:, SA News Editor

Swift Transportation (SWFT +3.8%) is upgraded to Overweight from Neutral with a $31 price target, raised from $23, at J.P. Morgan, which says the shares offer the most attractive risk/reward in the transportation and logistics group.

The firm sees realized rates turning positive in 2017 from reduced capacity, with further gains in realized rates in 2018, and improved demand amid a turn in the truckload cycle.

The upgrade follows yesterday's note from Deutsche Bank saying U.S. transportation stocks should get a boost in 2017 by stronger GDP growth and a reduction in the corporate tax.

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