J.B. Hunt price target lowered to $151 from $173 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on J.B. Hunt to $151 from $173 and keeps a Hold rating on the shares. The freight downcycle “continued taking its toll on transportation bellwether” J.B. Hunt with another earnings miss in Q2, says the analyst, who notes that a continued deflationary rate environment, particularly within Intermodal and Highway Services, again squeezed margins. Management’s strategy to maintain excess capacity in oversupplied markets against elevated competitive pressures “suggests that more pain may be in store in 2H24,” the analyst added.