Brokerages turn bullish on Hub Group after Q4 profit sails past estimates
09/02/2022 12:41
** Cowen raises PT on freight transportation management co
HUBG.O to $115 from $90 after Q4 profit tops Street estimates
** PT implies an upside of ~52% to the stock's last close
** Co reports Q4 adjusted profit of $2.48/shr, sailing past
analyst estimates of $1.43 - Refinitiv data urn:newsml:reuters.com:*:nL8N2UJ7S7
** "Exceptional freight demand drove pricing strength across
the board, despite the congestion in the network. '22 guidance
came in well above previous forecasts" - Cowen
** J.P. Morgan raises PT on HUBG to $92 from $87, saying co
has reported some of the strongest pricing gains on record
** At least two other brokerages also raised PT on HUBG
** 10 of 16 brokerages rate the stock "buy" or higher, six
"hold"; their median PT is $94.5 - Refinitiv data
** Up to Tuesday's close, stock had fallen 10.2% YTD
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))