Stifel Resumes Hub Group (HUBG) at Buy
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Stifel analyst J. Bruce Chan resumes coverage on Hub Group (NASDAQ: HUBG) with a Buy rating and $73 price target.
The analyst commented, "We are resuming coverage of Hub Group with a Buy rating and a $73 target price. We expect solid volume growth in intermodal to continue, based on persistent capacity challenges in parallel models, which could extend deeper into 2022 than most expect. As the second-largest player in the industry, we believe Hub stands to benefit. Moreover, favorable pricing momentum should offer more opportunity for margin expansion if management plays can execute, in our view. Finally, we believe that new initiatives on the technology-based efficiency front, and a more concerted focus on new, high-return product offerings like truck brokerage yield more upside opportunity. Hub often plays second fiddle to the larger J.B. Hunt, but against a solid freight backdrop, we think that also provides more unrealized valuation upside potential."
Shares of Hub Group closed at $64.28 yesterday.
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