Hub Group downgraded to Hold from Buy at TD Cowen

TD Cowen downgraded Hub Group to Hold from Buy with a price target of $43, down from $50. The analyst sees downside to 2025 consensus estimates, saying pricing pressure is likely to weigh on the company’s margins. The firm expects Hub Group to see a positive pricing inflection in the second half of 2025 at the earliest, noting a recovery in truckload needs to come first. HUBG is trading at a premium to its historical valuation average after stock has run 18% over that past three months, the analyst tells investors in a research note.