J.B. Hunt faces margin squeeze due to surge in spot rates, Bank of America raises price forecast to $216 from $208.
J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) reported that the peak season met expectations with no significant strength or weakness. However, the company warned about ongoing challenges in the freight industry, particularly in its brokerage division. Bank of America Securities analyst Ken Hoexter increased the price target for JBHT to $216 from $208, maintaining a Buy rating. Hoexter mentioned concerns about the tough freight market despite stable volumes during the peak season. CEO Shelley Simpson noted strong demand but struggled with performance due to inflationary pressures. Hoexter also discussed surging spot rates contributing to a margin squeeze for the company. For the full story, please visit Benzinga.com.
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