Hub Group price target raised to $91 from $85 at Stephens

Stephens analyst Justin Long raised the firm’s price target on Hub Group to $91 from $85 and keeps an Equal Weight rating on the shares. Hub reported Q2 results “that we would classify as mixed,” said the analyst, who also notes that the company’s 2023 revenue and adjusted EPS guidance was reduced by 6% at the midpoint. However, Hub’s balance sheet “remains a highlight” with no net debt and strong free cash flow and the firm expects additional buybacks and/or an acquisition before year-end.