Argus lowered the firm’s price target on J.B. Hunt to $190 from $220 but keeps a Buy rating on the shares. The company’s business has been challenging as its Q1 earnings fell 35% from last year while missing consensus estimates, the analyst tells investors in a research note. Arugs adds however that the recent weakness offers a buying opportunity as J.B. Hunt management remains focused on running the business for long-term growth, with a near-term emphasis on cost control. The firm adds that valuation on the stock are attractive, with shares trading near the midpoint of their historical price-to-earnings range.
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