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– J.B. Hunt Transport (JBHT -1.9%) tumbles as much as 3% after J.P. Morgan downgrades shares to Underweight from Neutral with a $150 price target, trimmed from $169, saying the stock is highly correlated with spot truckload rate momentum, which turned negative in early July.

– J.P. Morgan analyst Brian Ossenbeck says J.B. Hunt trades a record premium to full truckload equities, but the stock’s valuation is “at risk for relative underperformance, not a 2018 type of collapse.”

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