Wells Fargo cuts Hub Group to 'equal weight'; Nasdaq flags late filing

Wells Fargo downgrades logistics provider Hub Group HUBG.O to "equal weight" from "overweight"

Cuts PT to $35 from $55, implying a 3.7% downside to the stock's last close

Cites lack of visibility on the timeline for a resolution of its 2025 accounting issues and says expectations for timely resolution have faded

We assume $77 million new purchased transportation charges during the first nine months of 2025 continue in 4Q25 and remain a similar headwind looking forward - Wells Fargo

Separately, HUBG on Tuesday received a notice from Nasdaq related to delayed filing of Form 10-K

Six of 17 analysts rate stock "strong buy" or "buy", ten "hold" and one "strong sell"; their median PT is $48 - data compiled by LSEG

As of last close, stock down 14.6% YTD