Susquehanna raised the firm’s price target on J.B. Hunt to $195 from $175 and keeps a Neutral rating on the shares. The firm feels there is too much 2024 estimate risk from pricing to be constructive on truckload-related shares. Although they feel good about transport demand into 2024, the chalenge is too much excess truckload capacity. Susquehanna feels good about rails and LTL’s navigating the backssrop of improving demand versus truckload capacity but they don’t have much optimism that carriers, brokers, or intermodal providers can offset margin pressure from pricing.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on JBHT:
- J.B. Hunt target raised, added to ‘Tactical Underperform’ list at Evercore ISI
- J.B. Hunt price target raised to $210 from $200 at Benchmark
- California pushes electric trucks with restrictions at ports, NY Times reports
- J.B. Hunt chief sustainability officer Harper to retire
- J.B. Hunt just upgraded at BMO Capital, here’s why
