BMO Capital analyst Fadi Chamoun lowered the firm’s price target on Hub Group to $85 from $95 and keeps a Market Perform rating on the shares. The company’s Q1 revenue missed expectations as underlying demand was much weaker than previously anticipated, the analyst tells investors in a research note. The firm added that the preessure is most acute in intermodal, which exited Q1 with volumes tracking 18% lower from last year and inflationary cost pressures, including rail costs, pressuring profitability amid a more competitive pricing environment.
Published first on TheFly
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