As previously reported, Evercore ISI analyst Jonathan Chappell upgraded Hub Group (HUBG) to Outperform from In Line with a price target of $53, up from $38, citing “several reasons.” The firm believes intermodal volumes and pricing have bottomed; that Hub stands to be the greatest direct beneficiary of the proposed Union Pacific (UNP) and Norfolk Southern (NSC) merger as the largest asset-based IMC provider on both networks; its view that Hub’s free cash flow generation “remains robust even in an extended downturn”; and a discounted valuation.
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Read More on HUBG:
- Hub Group upgraded to Outperform from In Line at Evercore ISI
- Hub Group price target raised to $47 from $36 at TD Cowen
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