Custom Truck One Source downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Custom Truck One Source (CTOS) to Underweight from Neutral with a price target of $5.50, down from $6. The firm sees the stock underperforming the group following the 25% rally year-to-date. Vocational truck sales will soften over the coming quarters due to weak orders data in recent months, the analyst tells investors in a research note. JPMorgan points out that 60% of Custom Truck’s sales come from truck and equipment sales.