JPMorgan analyst Brian Ossenbeck downgraded both CSX (CSX) and Echo Global (ECHO) to Neutral from Overweight while upgrading Hub Group (HUBG) to Overweight from Neutral. The analyst sees downside risk to 2020 consensus estimates across the Transportation & Logistics sector. However, the truckload carriers should navigate the revisions well as the full truckload rate cycle gains momentum with help from the full implementation of electronic logging devices in mid-December, Ossenbeck tells investors in a research note. His upgrade of Hub Group to Overweight reflects his preference to add full truckload rate exposure at a "reasonable valuation." Further, the company's diverse business model should continue beating expectations in 2020, contends the analyst, who notes that Hub is now his top SMID cap idea. Ossenbeck's downgrade of Echo is based on expectations for continued margin compression in 2020 from its increasing tech investments and narrowing contract/spot spreads. His downgrade of CSX is based on valuation after the company's "tremendous run." The analyst's top rail pick remains Norfolk Southern (NSC).

Loop Capital raised the firm's price target on Norfolk Southern to $270 from $261 and keeps a Buy rating on the shares as part of a broader research note on Transportation names. The firm is adjusting its estimates on the stock following its Q1 pre-announcement last week.

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.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSBank... To see the rest of the story go to thefly.com. See Story Here