Goldman Sachs broadly raises estimates for LTL and truckload stocks

Analyst
โดย Investing.com·Read original
Summary · why it matters

Goldman Sachs has broadly raised earnings estimates and price targets for less-than-truckload and truckload transportation companies, citing improving freight fundamentals and the potential for a stronger-than-expected recovery. The bank increased forecasts through 2028 and lifted its blue sky scenarios, which model a more pronounced rebound from the freight downturn. LTL and truckload shares have already rallied about 70% on average since Goldman's June 2025 sector upgrade and 46% year-to-date, but the firm said early cycle momentum and the start of an earnings upgrade cycle keep it involved on a relative basis. For LTL carriers, recent mid-quarter updates show second-quarter volumes and some pricing trends running ahead of prior forecasts, with the pace of year-over-year shipment declines easing faster than expected and signs of a potential volume inflection later this year. In truckload, spot rates excluding fuel are averaging about 30% higher year-over-year in the second quarter, with more recent pricing gains topping 40%, and contract pricing is also improving, leading Goldman to raise revenue-per-mile and profit forecasts for the second half of 2026 and beyond.

Impact on stocks 4

Industrials▲ · 3 stocks
ArcBest Corp
ARCB
▲ PositiveDemandrelevance

Goldman Sachs raised estimates and price targets for LTL carriers including ArcBest, citing improving freight volumes and pricing trends.

FedEx Corporation
FDX
▲ PositiveDemandrelevance

Goldman Sachs raised estimates for truckload carriers; FedEx is mentioned as a peer but not specifically discussed.

United Parcel Service Inc
UPS
▲ PositiveDemandrelevance

Goldman Sachs raised estimates for truckload carriers; UPS is mentioned as a peer but not specifically discussed.

Financials▲ · 1 stocks
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