As previously reported, Loop Capital analyst Rick Paterson downgraded CSX (CSX) and Canadian Pacific (CP) to Hold from Buy as part of a broader Air Freight & Logistics industry research note, saying the freight transportation data continue to indicate a slowing in the industrial economy. The analyst cites volumes registering a second consecutive quarter of negative growth relative to their prior years, with the most recent quarter also declining sequentially from the prior one and the upcoming quarter likely remaining pressured by the tough annual comps. The analyst also lowers his price targets on Canadian Pacific to C$338 from C$340, CSX to $81 from $85 while also reducing the price targets on UPS (UPS) to $128 from $145, J.B. Hunt (JBHT) to $121 from $133, and Hub Group (HUBG) to $65 from $71.

Loop Capital lowered the firm's price target on GXO Logistics (GXO) to $74 from $76 and keeps a Buy rating on the shares as part of a broader research note on Transportation names. The firm is revising its model following a disappointing quarter and commentary from J.B. Hunt (JBHT) this week, the analyst tells investors in a research note.

BMO Capital lowered the firm's price target on J.B. Hunt to $200 from $218 but keeps an Outperform rating on the shares after its Q1 earnings miss. The company's immediate term is challenged and the current bid season may still prove to be another source of earnings pressure, the analyst tells investors in a research note. BMO adds however that with the Intermodal segment sitting at 15-year lows across margins, EBIT/load, and equipment utilization, the risk/reward appears firmly favorable for long-term investors.

UBS analyst Thomas Wadewitz lowered the firm's price target on CSX to $44 from $46 and keeps a Buy rating on the shares. CSX's Q1 EPS was modestly above consensus, showing improvement in the Purchased Services and Other expense line and providing positive commentary on their outlook for volumes, the analyst tells investors in a research note. The Q1 report was solid and CSX provided a constructive outlook, UBS contends.