J.B. Hunt added to Q3 2023 Tactical Ideas List at Wells Fargo

Wells Fargo added J.B. Hunt to the firm’s Q3 2023 Tactical Ideas List, while keeping an Overweight rating and a price target of $200 on the shares. A cyclical bottom in intermodal volumes combined with a secular tailwind makes J.B. Hunt particularly attractive, Wells says, adding that Q2 results likely reflect worst of the declines. The firm is a buyer of the bottoming given J.B. Hunt’s ability to capture growth and share at the turn.