Hub Group jumps after raising annual sales, profit forecasts
29/04/2022 15:06
** Shares of freight transportation management co HUBG.O
up 3% $68.61 in morning trading
** Co expects 2022 EPS of $9-$10 vs. prev forecast of
$5.90-$6.30, boosted by higher prices urn:newsml:reuters.com:*:nGNX3N1LZc
** Raise FY revenue forecast to $5.3 bln-$5.5 bln from $4.9
bln-$5.1 bln; co also beats Q1 revenue and profit estimates
** J.P. Morgan says rising inventories and fuel prices are
helping demand for intermodal freight transport, which
represents about half of co's revenue
** JPM upgrades stock to 'overweight' from 'neutral', and
raises PT to $92 from $76
** Up to Thursday's close, HUBG down 21% so far this year
(Reporting by Uday Sampath in Bengaluru)
((UdaySampath.Kumar@thomsonreuters.com; Twitter: https://twitter.com/sampath_uday
;))