Evercore ISI lowered the firm’s price target on J.B. Hunt to $191 from $200 and keeps an Outperform rating on the shares after the company reported Q1 EPS "well below" the firm’s forecast and the average Street estimate. Volumes were light of expectations in the core Intermodal and ICS sgements, while pricing fell sequentially in a material manner in most businesses and "worse" was that the demand environment has yet to show signs of stability, the analyst tells investors. The "good news" is that J.B. Hunt is still investing through the bottom of the cycle, winning share and is positioned to be "a long-term winner in each of its segments," but the "bad news" is that it is "not immune to the intense present pressures across these segments," the firm added.
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Published first on TheFly
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