Citing strong spot market fundamentals and low retail inventories, UBS (NYSE: UBS) freight transportation analyst Tom Wadewitz raised his forecasts for truckload (TL) carriers for the back half of the year.
“Truckload spot market data have shown a better-than-normal seasonal pattern with continuing strength in spot loads in July and August,” stated Wadewitz in a Friday note to clients. The analyst pointed to a low retail inventory-to-sales ratio as well as recent reports of declining inventories...
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