Hub Group downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Hub Group (HUBG) to Equal Weight from Overweight with a price target of $35, down from $55. The firm lacks visibility on the timeline for a resolution of the company’s accounting issues. Wells says its expectation for a timely resolution has faded. It assumes the $77M in new purchased transportation charges during the first nine months of 2025 continued in Q4 and will remain a similar headwind going forward. The analyst reduced estimates for Hub and downgraded the shares.