J.B. Hunt price target raised to $190 from $170 at BMO Capital

BMO Capital analyst Fadi Chamoun raised the firm’s price target on J.B. Hunt to $190 from $170 and keeps a Market Perform rating on the shares. J.B. Hunt’s Q2 results were roughly 4% below consensus for EPS and EBIT, reflecting volume and pricing headwinds amid the ongoing freight recession, the analyst tells investors in a research note. The firm thinks the bottom of the freight cycle may be nearing and sees J.B. Hunt as being well-positioned for an eventual recovery in volumes.