Tom Wadewitz

EFS: Truckload valuations and market metrics — Great Quarter, Guys

Great Quarter Guys 11/17

Less-than-truckload freight has taken a front seat during the COVID-19 pandemic as e-commerce and parcel service ramped up thanks to consumer buying habits. On this episode of Great Quarter, Guys, Andrew Cox and Seth Holm look at how that ramp-up has supported fleets and also impacted other modes of transportation. 

Cox and Holm welcome Tom Wadewitz, UBS Securities senior equity research analyst to the show for the discussion. Wadewits recently moved his assessment of the trucking industry down...

https://s29755.pcdn.co/news/efs-truckload-valuations-and-market-metrics-great-quarter-guys

Analysts all in on transportation stocks; transition to services spending no threat

Transport stocks looking up, according to analysts

A couple of bullish reports this week highlight reasons to favor transportation stocks moving forward. The outlooks call for favorable freight fundamentals around demand, utilization and pricing to remain in place for the foreseeable future.

Consumer demand not likely to wane anytime soon

UBS (NYSE: UBS) transportation analyst Tom Wadewitz said he sees a “perfect storm” for freight demand, pointing to tight capacity, inventory rebuilding and a steady stream of stimulus money. “The combination of...

https://www.freightwaves.com/news/analysts-lean-in-on-transport-stocks-spending-on-services-not-a-threat

Interest in LTL industry gains momentum

UBS' Wadewitz sees favorable outlook for LTL carriers

The less-than-truckload carriers got another bull in their camp on Tuesday when UBS (NYSE: UBS) freight transportation analyst Tom Wadewitz initiated coverage on the sector with a favorable outlook.

In a report to clients, Wadewitz launched coverage of Old Dominion Freight Line (NASDAQ: ODFL) and XPO Logistics (NYSE: XPO) with “buy” ratings and Saia (NASDAQ: SAIA) with a “neutral” rating. He pointed to rebounding industrial activity as supportive of his forecast for tonnage growth of 5% in 2021...

https://www.freightwaves.com/news/interest-in-ltl-industry-gains-momentum

UBS 2021 outlook calls for healthy freight flows in first half

UBS sees the most upside in shares of FedEx and UPS

UBS (NYSE: UBS) freight transportation analyst Tom Wadewitz sees a favorable freight setup in the first half of 2021. His expectations for the year were laid out on a conference call with clients Thursday reviewing his outlook report published earlier in the day.

The call is for “a combination of rising growth in freight activity plus strong pricing to support strong EPS performance and upside for the transport group in 2021.” He believes the stocks with the most upside are FedEx (NYSE: FDX) and...

https://s29755.pcdn.co/news/ubs-2021-outlook-calls-for-healthy-freight-flows-in-first-half

Consensus for double-digit truckload rate increases forming

Unidentified truck on highway

The expectation for truckload (TL) contractual rates to increase by double digits in 2021 is growing. In a Wednesday note to clients, UBS (NYSE: UBS) transportation equities analyst Tom Wadewitz outlined the fundamentals supporting this projection.

“The current extreme tightness in the TL spot market plus a constructive outlook on freight point to double-digit rate increases in 2021,” he concluded.

Wadewitz said recent spot market metrics “show a market that remains on a trend of further...

https://www.freightwaves.com/news/consensus-for-double-digit-truckload-rate-increases-forming

Analyst ups estimates for truckload carriers in 2H 2020

Trucks on highway

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...

https://s29755.pcdn.co/news/analyst-ups-estimates-for-truckload-carriers-in-2h-2020