J.B. Hunt price target lowered to $200 from $205 at Stephens

Stephens analyst Justin Long lowered the firm’s price target on J.B. Hunt to $200 from $205 and keeps an Overweight rating on the shares. The firm expects Hunt’s Q1 results to be slightly below Street expectations given weakness in the freight market, intermodal mix headwinds and a miss in the ICS segment. It has also trimmed annual estimates as it sees more uncertainty around the potential for a positive demand inflection in the next couple of quarters given a rising level of macro concern. However, the firm adds that continue to believe J.B. Hunt’s intermodal and dedicated businesses that make up about 90% of operating income should be relatively resilient and it would be buying weakness in the stock driven by near-term cyclical headwinds.