Forward Air (FWRD) PT Raised to $27 at Stifel

Stifel analyst J. Bruce Chan raised the price target on Forward Air (NASDAQ: FWRD) to $27.00 (from $24.00) while maintaining a Buy rating.

The analyst comments "Forward Air provided a significant positive update regarding the large Omni customer that had previously indicated plans to transition a portion of its business to other providers. The company announced that it has entered into a definitive two-year agreement with the customer, replacing the non-binding MOU signed in July under which it expected to retain at least 50% of the customer's approximately $250mm of annual revenue, with the potential to retain an additional ~25% (see here and here). The new agreement is more positive than we'd contemplated in July. Forward is retaining a significant portion of the relationship, and management now expects annual customer revenue in each of 2026, 2027 and 2028 to exceed its total 2025 contribution, driven by growth in retained services. We view the announcement as a meaningful positive for earnings visibility and the deleveraging thesis and expect relief from the overhang on the stock. Reiterate Buy."

You May Also Be Interested In

• Exlservice (EXLS) PT Raised to $48 at Stifel
• Boeing (BA) PT Lowered to $223 at Bernstein SocGen Group
• Boot Barn (BOOT) PT Lowered to $194 at UBS