UBS has upgraded Knight-Swift Transportation (Truckload Services) to a Buy from neutral, offering an upside of 26%. The bank's new 12-month price target is $66 per share, up from $54. The upgrade was driven by increasing visibility to a supply reduction in the industry and increased spot rates indicating a tightening market. As a result, truckload pricing has strengthened, with UBS predicting 15% pricing gains over the two-year period of 2026 and 2027. The bank also expects stronger earnings next year than previously expected. Following the upgrade, shares rose more than 3% following the announcement.