Stephens downgrades Hub Group to 'equal-weight', cuts PT
31/03/2022 13:38
** Stephens downgrades freight transportation management co
HUBG.O to "equal-weight" from "overweight"
** Trims PT to $93 from $97, implying an upside of ~15.4% to
the stock's last close
** Expects limited near-term opportunities due to several
medium-term unknowns
** "Moving into 2023, we see potential for the competitive
dynamics to become more challenging" - Stephens
** Says freight cycle is likely to moderate from
historically high levels
** Eight of 16 brokerages rate the stock "buy" or higher,
the rest rate "hold"; their median PT is $94 - Refinitiv data
** As of last close, shares down 4.32% this year
(Reporting by Manya Saini in Bengaluru)
((Manya.Saini@thomsonreuters.com;))