Incremental capacity, cooling demand and plummeting spot rates were the catalysts for another analyst to reel in expectations for trucking companies. On Thursday, Cowen’s Jason Seidl lowered earnings estimates for the truckload and less-than-truckload carriers he follows heading into the first-quarter earnings season, which starts Monday.
He advised clients to favor large-cap TL carriers versus the smaller carriers, downgrading Covenant Logistics Group (NASDAQ: CVLG) to “market perform” from...
https://www.freightwaves.com/news/trucking-cowen-cuts-estimates-over-growing-concerns-for-carriers