Two bullish equity research reports this week on transportation stocks both highlight expectations around consumer spending and what that means for freight demand.
While the degradation was seen across most sectors, the transports are seeing outsized declines.
While the degradation was seen across most sectors, the transport sectors saw large declines.
A tanker barge operator, a Jones Act steamship line, and North America’s largest 3PL all posted big gains on the day, leading Dow Transports to a record intraday high against a softening broader equities market.
Transport stocks excluding bulk maritime carriers largely unaffected by tariffs; Port of LA getting new container terminal; Boeing and Ford threatened by Chinese tariffs; new autonomous shipping joint venture announced; commercial driving schools see low enrollment; a guide to Tesla’s guidance.
An optimistic Q1 guidance document released by Covenant Transport yesterday caused the carrier’s stock to jump 5% this morning. We explain how the team fleet is exploiting the new ELD environment.
Transport stocks were not immune to the big sell-off on Wall Street on Monday, with the Dow Jones Transport Index falling 336.77 points to 10,350.41, a 3.15% fall on the day.
Strong economic fundamentals in the U.S. and globally are driving the second-longest bull market since the 1920s. Could the driver shortage ultimately end it all?
JP Morgan likes FedEx, Schneider, Canada Pacific, and JB Hunt–‘sells’ include Union Pacific, Knight-Swift, and CH Robinson.
Morgan Stanley and SIG see great prospects for truckload carrier stocks going into 2018. Large carriers’ valuations should benefit from both the ELD mandate and the GOP tax reform.
