Hub Group price target lowered to $40 from $49 at Benchmark

Benchmark analyst Christopher Kuhn lowered the firm’s price target on Hub Group (HUBG) to $40 from $49 and keeps a Buy rating on the shares. While the firm thinks the first quarter for Hub is tracking relatively in-line with Benchmark estimates, it is reducing its FY25 and FY26 estimates after J.B. Hunt (JBHT) confirmed the firm’s pre-quarter checks that an intermodal rate recovery is progressing slower than expected, the analyst tells investors in a preview.