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Fly News Breaks for April 17, 2019
Apr 17, 2019 | 07:59 EDT
Argus analyst John Eade downgraded J.B. Hunt to Hold after its Q1 results that showed "low-single-digit growth and fell short of expectations." The analyst sees the company's problems in the "all-important Intermodal segment", which is being weighed down by weaker demand and high inventory levels. Eade also believes that the "challenging market conditions, including rising costs for employees, will persist for several quarters", but intends to re-consider a Buy rating for J.B. Hunt if its volumes improve or if the stock price falls to around $90.
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