JPMorgan placed Union Pacific (UNP), Norfolk Southern (NSC), J.B. Hunt (JBHT) and Hub Group (HUBG) on "Negative Catalyst Watch" heading into the Q1 earnings reports. The analyst does not anticipate a "buy the dip moment" for intermodal and railroads when fading visibility on a back-half of 2023 recovery is combined with the "last step down to more normalized earnings." Accordingly, the firm sees better risk/rewards "on the other side of the congestion endgame."
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Published first on TheFly
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