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."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on UNP:
- Union Pacific price target lowered to $176 from $179 at Morgan Stanley
- Union Pacific reaches paid sick leave agreements with eight labor unions
- Union Pacific price target lowered to $207 from $215 at Deutsche Bank
- Union Pacific upgraded to Sector Perform at RBC amid activism
- Union Pacific upgraded to Sector Perform from Underperform at RBC Capital
