J.B. Hunt price target raised to $196 from $188 at BofA

BofA raised the firm’s price target on J.B. Hunt to $196 from $188 and keeps a Buy rating on the shares. Q3 EPS of $1.49 was down 9% year-year, but above the firm’s $1.35 forecast and Street’s $1.39 call, with the beat led by above-target Intermodal Load growth as shippers pulled-forward volumes in anticipation of an East Coast Port strike, the analyst tells investors. Following the report, the firm increased its 2024 EPS estimate 2% to $5.70 and holds its $7.80 2025 EPS estimate, which it notes “remains well above the Street’s $7.27 average.”