Quick Take: CHRW trucking verdict - it‘s less about the amount than the precedent as we rewrite liability post Montgomery

Research evidence excerpt

Quick Take: CHRW trucking verdict - it‘s less about the amount than the precedent as we rewrite liability post Montgomery

tion of the business; employee

growth is critical to growth in net revenues and as such an inability to recruit, train and retain employees would create a risk relative

to our forecasts.

JB Hunt Transport Services Inc

The primary downside risks include a prolonged disruption in North American rail service, a lower than expected rate of truck

price inflation (which drives Intermodal /DCS demand and helps the Truck turnaround), and contractual issues associated with

the resolution of underperforming contracts in the Dedicated Capacity Solutions Business. Other risks include: changes in

government regulation (security standards, work limits concerning hour of service, or other mandates) which could impact the

profitability of the business; and difficulty in attracting and retaining drivers which could impact the company's ability to manage

high rate of growth expected in our outlook or otherwise negatively impact margins.

RATINGS DEFINITIONS, BENCHMARKS AND DISTRIBUTION

EQUITY RATINGS DEFINITIONS

Bernstein brand

The Bernstein brand rates stocks based on forecasts of relative performance for the next 12 months versus the S&P 500 for

stocks listed on the U.S. and Canadian exchanges, versus the Bloomberg Europe Developed Markets Large and Mid Cap Price

Return Index EUR (EDME) for stocks listed on the European exchanges and emerging markets exchanges outside of the Asia

Pacific region, versus the Bloomberg Japan Large and Mid Cap Price Return Index USD (JPL) for stocks listed on the Japanese

exchanges, and versus the Bloomberg Asia ex-Japan Large and Mid Cap Price Return Index (ASIAX) for stocks listed on the Asian