J.B. Hunt price target lowered to $185 from $200 at Benchmark

Benchmark lowered the firm’s price target on J.B. Hunt to $185 from $200 and keeps a Buy rating on the shares, citing lowered estimates and the elongated weak freight environment for its target cut. It has “been a tough year so far” for J.B. Hunt and given a lack of OTR conversions, competitive intermodal pricing, private fleet growth that is keeping truckload prices down and still negative operating profit in ICS, Q2 “may not yet be the turning point,” the analyst tells investors.