UBS analyst Thomas Wadewitz downgraded Hub Group to Neutral from Buy. The firm’s analysis of intermodal pricing and accessorial revenue points to an estimated decline in revenue per load excluding fuel of 10% for Hub Group in 2023, which, along with cyclical pressure in its brokerage business, drives an expectation of a significant cyclical decline in EPS, Wadewitz tells investors in a research note.
Published first on TheFly
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