© Reuters. Trucking stocks in retreat after Cowen weighs in
- Cowen turns cautious on trucking stocks after the sector rallied briskly on a demand spike following the U.S. hurricanes.
- ArcBest (ARCB -5.1%), J.B. Hunt (JBHT -2.9%) and Covenant Transportation Group (CVTI -10.1%) are all lowered to Market Perform from Outperform, while Werner Enterprises (WERN -2.5%) is dropped to Underperform from Market Perform.
- The firm separated out C.H. Robinson and Landstar System (LSTR -0.7%) as two stocks without the same stretched valuation.
- Source: Bloomberg
- Previously: Cowen singles out C.H. Robinson as transportation pick (Oct. 16)
- Now read: Landstar System – Focus Is On 2018