JBHT - UPS placed on Positive Catalyst Watch at JP Morgan

2023-04-11 12:12:00 ET

JP Morgan analyst Brian Ossenbeck opened a positive catalyst watch on United Parcel Service ( NYSE: UPS ) on Tuesday, advising strong guidance could promote strong upside.

Ossenbeck advised that “tepid interest in the rails” and a pessimistic Q1 consensus could aid earnings day action as well. Ossenbeck clarified that the positivity on UPS is relative and aided in part by perhaps overwrought negative sentiment on the name.

However, market pessimism on rails and other transports could prove prudent, in his view. He conversely opened negative catalyst watches on Hub Group ( HUBG ), Norfolk Southern ( NSC ), JB Hunt ( JBHT ), and Union Pacific ( UNP ).

“We don’t anticipate a buy the dip moment for rails and intermodal when fading visibility on a back-half recovery is combined with the last step down to more normalized earnings,” he told clients.

Shares of UPS ( UPS ) rose 1.2% in afternoon trading on Tuesday.

Read more on earnings expectations for FedEx .

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