J.B. Hunt downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded J.B. Hunt to Neutral from Buy. The firm downgraded shares given service issues at Burlington Northern Santa Fe resulting in lower intermodal load growth forecasts. Price target reduced to $78 from $85.
Goldman lowers Trucking sector to Neutral from Attractive Goldman Sachs downgraded the Trucking sector to Neutral from Attractive citing increased uncertainty around demand. Goldman expects the rising value of the U.S. dollar and spending cuts at energy companies to continue weighing on industrial production. It also points out that spot pricing momentum has slowed. Along with the sector, Goldman cut Ryder (R) to Neutral from Buy. The firm reiterates Old Dominion (ODFL) as its top pick in the Trucking space with a Buy rating and $85 price target. Goldman keeps Neutral ratings on C.H. Robinson (CHRW), Con-way (CNW) and J.B. Hunt (JBHT) and a Sell rating on Landstar System (LSTR).