• Sun. Aug 14th, 2022

Benchmark Initiates Forward Air With Hold Rating

ByAkanksha Bakshi

Jul 20, 2022
Benchmark Initiates Forward Air With Hold Rating

  • Benchmark analyst Christopher Kuhn initiated the coverage of Forward Air Corp FWRD with a Hold rating.
  • The analyst believes both the LTL and Intermodal segments are in attractive, growing industries. FWRD has several revenue growth opportunities in 2022, which should drive margin expansion.
  • Kuhn states that the company has successfully improved its freight profile over the last several quarters focusing on only high-value, palletized freight, making the network more efficient.
  • RelatedRaymond James Cuts Forward Air Price Target By 7%
  • Kuhn believes the near-term growth drivers should produce better than expected FY22 results.
  • Recently the company announced preliminary EPS guidance of $1.98-$2.12, 25% above the mid-point of original guidance.
  • The analyst says that the Hold rating reflects caution about the sustainability of some growth and margin trends in 2023.
  • Price Action: FWRD shares are trading higher by 0.16% at $95.90 on the last check Wednesday.



Image and article originally from www.benzinga.com. Read the original article here.