JPMorgan Turns 'More Cautious' On This Transportation Company, Cuts PT By 11%

  • 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.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsDowngradesPrice TargetAnalyst RatingsMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!