Citing “waning demand and price dives,” Bank of America downgraded multiple transportation stocks on Friday. The ratings changes come as recent data points and commentary show trucking fundamentals have loosened following a year-and-a-half run of high freight demand accompanied by a lack of supply.
Tender rejections, a proxy for truck capacity tightness, remained very high entering the year but began declining notably in March, bucking normal seasonal trends. High-single-digit price inflation...
https://www.freightwaves.com/news/transport-stocks-fall-out-of-favor-as-trucking-market-loosens