** Barclays lifts price targets of North American less-than-truckload $(LTL)$ freight carriers
Company New PT Old PT
Heartland $11 $10
Express
Knight-Swift $68 $62
Transportation
Old Dominion $220 $190
Freight Line
Saia $620 $515
Werner $40 $36
Enterprises
XPO $170 $150
** LTL freight is an economical option of shipping that involves only a portion of the space on a truck
** "LTL industry volumes have been underperforming industrial production for over two years, a trend that we expect to begin reversing as truckload markets tighten in 2025," says Barclays
** Brokerage cites the expected upcycle to support the industry's "meaningful" EPS growth potential through 2026
** Says higher valuations and recent share outperformance reflect investor optimism for LTL companies beyond the current downturn
** As of last close, the Dow Jones Transport Index had risen 9.3% YTD
(Reporting by Aatreyee Dasgupta) ((Aatreyee.Dasgupta@thomsonreuters.com))
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