Hub Group price target raised to $40 from $38 at BMO Capital

BMO Capital raised the firm’s price target on Hub Group (HUBG) to $40 from $38 and keeps a Market Perform rating on the shares. The company’s results were broadly in line with expectations, with guidance modestly lowered at the mid-point, reflecting a persistently muted freight backdrop, though on the positive side, a medium to long-term intermodal growth opportunity may be emerging, supported by planned rail consolidation and increased industry focus on highway conversion, the analyst tells investors in a research note.