J.B. Hunt Transport Services (JBHT) PT Raised to $174 at Stifel

Stifel analyst J. Bruce Chan raised the price target on J.B. Hunt Transport Services (NASDAQ: JBHT) to $174.00 (from $161.00) while maintaining a Hold rating.

The analyst commented: "J.B. Hunt reported 4Q24 EPS of $1.53, which missed our $1.60 estimate and the Consensus of $1.61. We do point out an unexpected $16mm intangible impairment charge that was worth about $0.10 per share, though. Revenues were roughly in line with expectations. Intermodal, the biggest piece of the puzzle, saw 2024 finish with record volumes, but residual contract pricing from earlier in the year dragged revenue lower, in our view. That residual contract pricing is likely to remain a headwind until 3Q25; we assume it gets better, but the improvement will probably be incremental. Dedicated is still seeing fleet contraction, which likely persists into 2Q25. And management guided 1Q25 margins lower, citing a disconnect between optimistic Street estimates and expectations of inventory pull-forward. The exact language was to expect a 20-25% sequential drop in operating income. At current levels, we remain Hold-rated."

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