Evercore ISI lowered the firm’s price target on J.B. Hunt to $200 from $205 and keeps an Outperform rating on the shares after the company posted Q3 EPS that fell short of the firm’s estimate and the average Street forecast in a quarter where “intermodal volumes finally turned positive on a year-over-year basis.” The firm is lowering its Q4, FY23, and FY24 EPS estimates, but adds that “the mix of quality and leverage” once a freight market upturn begins “leads us to retain our Outperform rating, even if immediate upside is limited.”
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- J.B. Hunt’s (NASDAQ:JBHT) Weak Q3 Results Draw Mixed Analyst Reactions
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