Analyst coverage begins on Schneider National (NYSE:SNDR) after investment firms wait out a quiet period following the IPO.
Morgan Stanley (Overweight, $24 PT) names Schneider its top pick in North America freight transportation, pointing to the "secret sauce" of its Quest system.
Wells Fargo (Outperform) also sees Schneider outperforming peers due to its differentiated focus.
Baird (Outperform, $22 PT), Credit Suisse (Outperform, $24 PT) and UBS (Buy, $24 PT) are also bullish on the trucker.
The only dose of caution from the Street is from Stephens (Equal-Weight, $18 PT). The firm calls valuation on Schneider at a fair level.
Sources: CNBC and Bloomberg
Shares of Schneider National are up 3.79% to $19.70. The IPO was priced at $19 last month.
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