J.B. Hunt Expands Fleet with 20 Nikola EVs: What's Going On?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 27 2024
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Source: Benzinga
J.B. Hunt's Sustainability Initiative: J.B. Hunt Transport Services is enhancing its sustainability efforts by adding 20 Nikola Corporation fuel cell electric vehicles (FCEVs) to its fleet, which already includes over 200 alternative-powered vehicles. This move aims to help customers reduce carbon emissions.
Market Performance: Following the announcement, J.B. Hunt shares increased by 1.25%, while Nikola's stock rose by 2.39%. However, both companies have experienced significant stock declines over the past year, with Nikola losing over 90% and J.B. Hunt down 6%.
Analyst Views on IYT
Wall Street analysts forecast IYT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IYT is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 77.675
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Current: 77.675
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
