Lowell-based carrier J.B. Hunt Transport Services Inc. and Fort Worth, Texas-based railroad company BNSF Railway Co. announced Wednesday (March 16) a joint initiative to improve intermodal service. Analysts praised the move as J.B. Hunt shares hit a 52-week high.
In a report, analysts Justin Long and Jack Atkins, and senior associate George Sellers and associate Cameron Hoglund, all of Little Rock-based Stephens Inc., expect increased investments in real estate and railcars.
“Bottom line, we view this as a very positive announcement as it illustrates the increasingly collaborative approach (J.B. Hunt) and BNSF are taking to capitalize on a sizable addressable market for intermodal,” the Stephens analysts said. “We believe this supports our bullish view on (J.B. Hunt) coming out of our recent intermodal field trip, and we are not surprised to see a more offensive approach on the heels of recent changes in rail/(intermodal) partnerships.”
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