J.B. Hunt price target raised to $200 from $190 at BMO Capital

BMO Capital raised the firm’s price target on J.B. Hunt to $200 from $190 and keeps a Market Perform rating on the shares. The company’s Q3 results were below expectations, but volumes in the core intermodal business inflected higher with growth positioned to continue amid easing destocking, the analyst tells investors in a research note. The firm also cites improved rail service and shippers’ increasing emphasis on cost savings, adding that BMO is encouraged by J.B. Hunt’s growth, execution, and market position.