UBS analyst Thomas Wadewitz downgraded J.B. Hunt to Sell from Neutral. The firm’s analysis of intermodal pricing and accessorial revenue points to an estimated decline in revenue per load excluding fuel of 7% for J.B. Hunt 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.
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