Wall Street analyst upgrades trucking industry

| 8/8/2008

One of the trucking industry analysts that Wall Street relies on for investment tips upgraded his assessment of the trucking industry Thursday, Aug. 7.

Lee Klaskow of Longbow Research still isn’t recommending buying trucking stocks across the board. But he says a survey conducted by his company this month found 44 percent of the trucking companies interviewed said they expect improvement in the business during the rest of the year.

A similar survey in June found only 15 percent expected improvement.

In this month’s survey, about 19 percent expect the trucking market to get worse, compared with about 70 percent two months ago.

Klaskow sent a note to his investment clients saying the trucking industry isn’t “out of the woods” yet, but that carriers are less despondent than they were just two months ago.