Evercore ISI lowered the firm’s price target on Hub Group to $90 from $98 and keeps an Outperform rating on the shares, which the analyst is removing from the firm’s “Tactical Outperform” list. The firm is cutting estimates “nearly across the board again” in the surface transportation group for Q3, Q4 and FY24 as the demand rebound “seems further delayed and may remain more muted than in prior cycles, at least in the early stages,” the analyst tells investors.
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