- JPMorgan analyst Brian Ossenbeck downgraded J B Hunt Transport Services Inc JBHT to Underweight from Neutral and lowered the price target to $150 (implying a downside of 11%), from $169.
- Ossenbeck is "turning more cautious" on J B Hunt, saying the stock is highly correlated with spot truckload rate momentum, which turned negative in early July. However, J B Hunt continues to trade a record premium to full truckload equities, Ossenbeck notes.
- The analyst sees the stock's valuation as "at risk for relative underperformance, not a 2018 type of collapse."
- Price Action: JBHT shares are trading lower by 1.99% at $169.61 on the last check Friday.
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