BofA analyst Ken Hoexter raised the firm’s price target on J.B. Hunt to $216 from $207 and keeps a Buy rating on the shares given the improved industry backdrop. The firm, however, decreases its Q3 and 2023 EPS estimates 9% and 4%, moving below the Street’s $1.91 and $7.70, respectively, the analyst tells investors. Since noting the market was in a freight recession at Q1 earnings, J.B. Hunt President Shelley Simpson sees the market coming out of a freight recession, shifting the company’s stance, the analyst noted.
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