Wall Street sees signs of improvement in trucking market, Bank of America raised price targets for major carriers.

The trucking market on Wall Street is showing signs of improvement as supply-side pressures are leading to rate increases, although demand has not yet caught up. Bank of America Securities has revised their price objectives and earnings estimates for key truckload carriers including Knight-Swift Transportation Holdings Inc. (NASDAQ: KNX), J.B. Hunt Transport Services (NASDAQ: JBHT), Schneider National (NYSE: SNDR), and Werner Enterprises (NASDAQ: WERN). Knight-Swift had its price target raised from $50 to $57, J.B. Hunt from $175 to $208, Schneider National from $22 to $26, and Werner Enterprises from $22 to $25. Tightening capacity and regulatory actions forcing out weaker operators are contributing to this trend. Numerous supply-side factors are driving this market improvement.