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Fly News Breaks for April 18, 2019
Apr 18, 2019 | 07:23 EDT
Deutsche Bank analyst Amit Mehrotra last night double downgraded J.B. Hunt to Sell from Buy and cut his price target for the shares to $83 from $125. The analyst says his work makes it clear that the trajectory of J.B. Hunt's returns is negative. This will continue, increasingly, as U.S. import volumes shift east, Intermodal length of haul shrinks and the company's highest return business increasingly competes with trucking, Mehrotra tells investors in a research note. The analyst sees a "significant shift" in U.S. imports eastward and away from West Coast ports. He downgraded J.B. Hunt after researching the implications for intermodal and trucking as length of haul moves lower.
News For JBHT From the Last 2 Days
Jun 18, 2019 | 10:16 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. InterContinental (IHG) downgraded to Underweight from Equal Weight at Barclays with analyst Vicki Stern stating downside risks from a macroeconomic slowdown are not reflected in the stock at current valuation levels. 2. Freshpet (FRPT) downgraded to Hold from Buy at SunTrust with analyst William Chappell saying his positive view of the company's fundamental story and outlook have not changed, but he cannot recommend for new investors to buy the stock at its current levels. 3. Regeneron (REGN) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg noting that while the company has a "strong pipeline" with new recent indications for multiple products, its primary revenue driver Eylea is facing several competitive threats. 4. Oracle (ORCL) downgraded to Neutral from Outperform at Macquarie with analyst Sarah Hindlian telling investors that her checks suggest that closing the fourth quarter "was a struggle," with partners saying they had to rush to discount orders up until the final days. 5. J.B. Hunt (JBHT) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing his increasing conviction that after a period of strong freight and unusually strong pricing in 2018, the downturn in freight will persist through 2019 amid "falling truckload and intermodal contract rates" for 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.