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

October 8, 2021 3:19 PM | 1 min read | Make a Comment

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.