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UPDATE: Bank of America Downgrades J.B. Hunt Transport Services as BNSF Service Issues will Constrain Growth

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In a report published Thursday, Bank of America analyst Ken Hoexter downgraded the rating on J.B. Hunt Transport Services (NASDAQ: JBHT) from Buy to Neutral, and lowered the price target from $85.00 to $78.00.

In the report, Bank of America noted, “JBHT remains one of the premier transport providers in the US. It has reduced its exposure to the volatile over the road business (to 1,850 trucks from more than 5,200 in Mar. 2007) while growing its Intermodal focus (>62% of revs), which provides a near 30% ROIC, and continues to grow. Alternatively, valuation is at the top end of its historical 18x-22x forward trading range. We believe given BNSF's service issues, shares will take a breather until growth can return.”

J.B. Hunt Transport Services closed on Wednesday at $70.99.

Latest Ratings for JBHT

DateFirmActionFromTo
Oct 2014Credit SuisseMaintainsOutperform
Oct 2014BarclaysMaintainsOverweight
Oct 2014Wells FargoInitiates Coverage onOutperform

View More Analyst Ratings for JBHT
View the Latest Analyst Ratings

Posted-In: Bank of America Ken HoexterAnalyst Color Downgrades Analyst Ratings

 

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