In an earnings preview, analysts Justin Long and Jack Atkins, and associates Brady Lierz, Grant Smith and Collin Nieman, all of Little Rock-based Stephens Inc., said the intermodal market is past the trough but faces pricing pressures following a weak 2023 bid season.
“As a result, our estimates remain below (Wall) Street, and we would not be surprised to see muted stock performance in the near term,” the Stephens analysts said. “However, if Street estimates reset to a more reasonable level, and there are signs of a positive inflection in intermodal pricing, we see potential for much better set-up later in 2024 as investors look ahead to a multi-year trajectory of elevated growth.”
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