UPDATE: Stifel Nicolaus Downgrades Hub Group to Hold on Valuation

Stifel Nicolaus downgraded Hub Group

from Buy to Hold and removed the price target of $39.00. Stifel Nicolaus commented, "Tweaking our 2013 and 2014 EPS estimates downward from $2.12 and $2.45 to $2.09, and $2.38, respectively. The reduction to our estimates is primarily related to a slightly slower growth rate in Mode business units in 2013 and 2014, which have combined to grow at low single digits y/y for the past three quarters, in combination with lower Unyson Logistics revenue growth in 2013 as the company deals with tougher comps from the lost customer." Hub Group closed at $37.20 on Tuesday.