J.B. Hunt Transport Services (JBHT) PT Lowered to $191 at Evercore ISI

Evercore ISI analyst Jonathan Chappell lowered the price target on J.B. Hunt Transport Services (NASDAQ: JBHT) to $191.00 (from $199.00) while maintaining a Outperform rating.

The analyst comments "Our 2Q24 EPS estimate for JBHT was already the low on the Street…and we’re lowering it by another 4.2% today. As noted, pricing continues to be pressured, and with margin a function of price, it is hard to see how Intermodal margins will improve meaningfully, if at all, from trough 1Q24 levels. Other business lines are likely to be broadly in line with expectations, though Logistics revenue and EBIT are probably going to remain soft and may miss projections. The volume narrative may determine stock price reactions to a vast underperformer this year, but we don’t expect EPS or pricing commentary to be a positive catalyst this quarter."

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