J.B. Hunt price target lowered to $215 from $216 at BofA

BofA analyst Ken Hoexter lowered the firm’s price target on J.B. Hunt to $215 from $216 and keeps a Buy rating on the shares after the company posted normalized Q3 EPS of $1.64, which was below the firm’s $1.80 estimate and the Street’s $1.83 forecast. While the firm lowered its Q4 and 2024 EPS estimates 15% and 6%, respectively, on near term pricing pressure, it see earnings inflecting on improving volumes and sees profits as set to rebound from 2023’s trough level.