POHLING88
2021-08-12
Well done
J.P. Morgan bucks second-half worries with transport picks<blockquote>摩根大通通过运输选择缓解下半年的担忧</blockquote>
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
分享至
微信
复制链接
精彩评论
我们需要你的真知灼见来填补这片空白
打开APP，发表看法
APP内打开
发表看法
3
8
{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":895368945,"tweetId":"895368945","gmtCreate":1628725027787,"gmtModify":1633744890515,"author":{"id":4089027015441930,"idStr":"4089027015441930","authorId":4089027015441930,"authorIdStr":"4089027015441930","name":"POHLING88","avatar":"https://static.tigerbbs.com/5aa9e281b9a2f81388a4d0125dfabafe","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":16,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body><p>Well done</p></body></html>","htmlText":"<html><head></head><body><p>Well done</p></body></html>","text":"Well done","highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/895368945","repostId":1131454237,"repostType":4,"repost":{"id":"1131454237","kind":"news","pubTimestamp":1628724818,"share":"https://www.laohunote.com/m/news/1131454237?lang=zh_CN&edition=full","pubTime":"2021-08-12 07:33","market":"us","language":"en","title":"J.P. Morgan bucks second-half worries with transport picks<blockquote>摩根大通通过运输选择缓解下半年的担忧</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131454237","media":"Seeking Alpha","summary":"Recent results from the transportation and logistics stocks are giving JPMorgan Chase more confidenc","content":"<p><ul> <li>Recent results from the transportation and logistics stocks are giving <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> more confidence about the second half, as post-earningsperformance has marked a turnaround from the past few months.</li> <li>The stocks have trailed the market and the industrials sector since May, the firm says, based on worries about a peaking cycle and an uncertain connection to leveraging record freight rates.</li> <li>But groups like rail companies have \"found their footing,\" the firm says, as \"inflation-plus pricing becomes a more valuable attribute.\"</li> <li>J.P. Morgan had put a few stocks on review for upgrade in mid-May - and since then upgraded <a href=\"https://laohu8.com/S/UPS\">United Parcel Service Inc</a> amid some greater parcel pricing power and a new $5 billion buyback.</li> <li>As for sentiment on the sector, the firm expects it will stay mixed as the market looks for that aforementioned leverage to near-record freight: \"Some investors are still sidelined after recent 2H21 growth scares and prefer to steer clear of potential valuation de-ratings on peak of the cycle concerns,\" it says.</li> <li>UPS and <a href=\"https://laohu8.com/S/FDX\">FedEx</a> earnings disappointed, which has cut sentiment on the parcel companies. Rails are still the favored inflation trade, while <a href=\"https://laohu8.com/S/XPO\">XPO Logistics</a> - and its spin-off, <a href=\"https://laohu8.com/S/GXO\">GXO Logistics Inc</a> - have \"the highest amount of increment interest by a wide margin.\"</li> <li>As for rails, a volume step-down from the first quarter to the second was a key concern ahead of an expected second-half recovery, but J.P. Morgan isn't concerned as it says intermodal made up 55% of that quarterly decline, on rising port congestion - and other commodities declining month-over-month aren't really surprises.</li> <li>Overall the firm says it's been warming up to rails ever since putting them on its \"buy the dip\" list in mid-May. There, it's Overweight on Norfolk Southern(NSC)$ .</li> <li>Turning to mid-cycle stocks, there's the greatest potential downside for <a href=\"https://laohu8.com/S/JBHT\">JB Hunt Transport</a> and C.H. Robinson Worldwide(NASDAQ:CHRW), since they've usually de-rated when spot truckload momentum decreases, J.P. Morgan says. J.B. Hunt is well above historical premiums, while \"the best time to own CHRW has likely passed.\"</li> <li>In larger sector themes, the firm says high frequency data isn't pointing to a consumer slowdown ahead; labor shortages aren't hitting every company the same (freight tech most disadvantaged, other than truckers); companies aren't likely to quickly lower cyclicality of earnings; the truckload rate cycle is showing clear signs of deceleration; and the new infrastructure bill is still not a \"needle-mover\" for freight (with activity spread out over several years, and involving lower-rated commodities like aggregates).</li> <li>Overall in the sector, its top picks are FedEx (FDX), Norfolk Southern (NSC) and <a href=\"https://laohu8.com/S/TFII\">TFI International Inc</a>.</li> <li>And it would stay clear of truckloads (it's Underweight on <a href=\"https://laohu8.com/S/KNX\">Knight Transportation</a>), <a href=\"https://laohu8.com/S/SNDR\">Schneider National Inc.</a> and <a href=\"https://laohu8.com/S/WERN\">Werner Enterprises</a>).</li> </ul></p><p><blockquote><ul><li>运输和物流股近期业绩表现良好<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>人们对下半年更有信心，因为财报后业绩与过去几个月相比出现了好转。</li><li>该公司表示，自 5 月份以来，该股一直落后于市场和工业板块，原因是对峰值周期的担忧以及与利用创纪录运费的不确定联系。</li><li>但该公司表示，随着“通货膨胀加定价成为更有价值的属性”，铁路公司等集团已经“找到了立足点”。</li><li>摩根大通 (J.P. Morgan) 在 5 月中旬对几只股票进行了升级审查，此后又进行了升级<a href=\"https://laohu8.com/S/UPS\">联合包裹服务公司</a>在一些更大的包裹定价权和新的50亿美元回购中。</li><li>至于该行业的情绪，该公司预计市场将保持好坏参半，因为市场正在寻找上述接近创纪录运费的杠杆：“在最近 2021 年下半年增长恐慌之后，一些投资者仍然持观望态度，并更愿意避开潜在的估值下调。周期担忧达到顶峰，”它说。</li><li>UPS和<a href=\"https://laohu8.com/S/FDX\">联邦快递</a>盈利令人失望，这削弱了包裹公司的信心。铁路仍然是受青睐的通胀贸易，而<a href=\"https://laohu8.com/S/XPO\">XPO物流</a>-及其衍生产品，<a href=\"https://laohu8.com/S/GXO\">GXO物流公司</a>- 拥有“最大幅度的增量利息”。</li><li>至于铁路，在预计下半年复苏之前，第一季度到第二季度的运量下降是一个主要问题，但摩根大通并不担心，因为它表示，由于港口拥堵加剧，多式联运占季度下降的 55%，其他大宗商品环比下降并不令人意外。</li><li>总体而言，该公司表示，自 5 月中旬将它们列入“逢低买入”名单以来，它一直在升温。在那里，它是诺福克南部（NSC）$的跑赢大盘。</li><li>转向中周期股票，最大的潜在负面影响是<a href=\"https://laohu8.com/S/JBHT\">JB亨特运输</a>和C.H。摩根大通表示，Robinson Worldwide（纳斯达克股票代码：CHRW），因为当现货卡车装载动力下降时，它们通常会被降级。J.B亨特的股价远高于历史溢价，而“拥有 CHRW 的最佳时机可能已经过去”。</li><li>在更大的行业主题中，该公司表示，高频数据并不表明未来消费放缓；劳动力短缺并没有对每家公司造成同样的打击（货运技术人员处于最不利的地位，卡车司机除外）；公司不太可能迅速降低盈利的周期性；卡车装载率周期显示出明显的减速迹象；新的基础设施法案仍然不是货运的“推动者”（活动跨越数年，涉及骨料等评级较低的商品）。</li><li>总体而言，在该行业，其首选是联邦快递 (FDX)、诺福克南方航空 (NSC) 和<a href=\"https://laohu8.com/S/TFII\">TFI国际公司</a>.</li><li>它将远离卡车（这是跑输大盘<a href=\"https://laohu8.com/S/KNX\">骑士运输</a>),<a href=\"https://laohu8.com/S/SNDR\">施耐德国家公司。</a>和<a href=\"https://laohu8.com/S/WERN\">沃纳企业</a>).</li></ul></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>J.P. Morgan bucks second-half worries with transport picks<blockquote>摩根大通通过运输选择缓解下半年的担忧</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJ.P. Morgan bucks second-half worries with transport picks<blockquote>摩根大通通过运输选择缓解下半年的担忧</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-08-12 07:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul> <li>Recent results from the transportation and logistics stocks are giving <a href=\"https://laohu8.com/S/JPM\">JPMorgan Chase</a> more confidence about the second half, as post-earningsperformance has marked a turnaround from the past few months.</li> <li>The stocks have trailed the market and the industrials sector since May, the firm says, based on worries about a peaking cycle and an uncertain connection to leveraging record freight rates.</li> <li>But groups like rail companies have \"found their footing,\" the firm says, as \"inflation-plus pricing becomes a more valuable attribute.\"</li> <li>J.P. Morgan had put a few stocks on review for upgrade in mid-May - and since then upgraded <a href=\"https://laohu8.com/S/UPS\">United Parcel Service Inc</a> amid some greater parcel pricing power and a new $5 billion buyback.</li> <li>As for sentiment on the sector, the firm expects it will stay mixed as the market looks for that aforementioned leverage to near-record freight: \"Some investors are still sidelined after recent 2H21 growth scares and prefer to steer clear of potential valuation de-ratings on peak of the cycle concerns,\" it says.</li> <li>UPS and <a href=\"https://laohu8.com/S/FDX\">FedEx</a> earnings disappointed, which has cut sentiment on the parcel companies. Rails are still the favored inflation trade, while <a href=\"https://laohu8.com/S/XPO\">XPO Logistics</a> - and its spin-off, <a href=\"https://laohu8.com/S/GXO\">GXO Logistics Inc</a> - have \"the highest amount of increment interest by a wide margin.\"</li> <li>As for rails, a volume step-down from the first quarter to the second was a key concern ahead of an expected second-half recovery, but J.P. Morgan isn't concerned as it says intermodal made up 55% of that quarterly decline, on rising port congestion - and other commodities declining month-over-month aren't really surprises.</li> <li>Overall the firm says it's been warming up to rails ever since putting them on its \"buy the dip\" list in mid-May. There, it's Overweight on Norfolk Southern(NSC)$ .</li> <li>Turning to mid-cycle stocks, there's the greatest potential downside for <a href=\"https://laohu8.com/S/JBHT\">JB Hunt Transport</a> and C.H. Robinson Worldwide(NASDAQ:CHRW), since they've usually de-rated when spot truckload momentum decreases, J.P. Morgan says. J.B. Hunt is well above historical premiums, while \"the best time to own CHRW has likely passed.\"</li> <li>In larger sector themes, the firm says high frequency data isn't pointing to a consumer slowdown ahead; labor shortages aren't hitting every company the same (freight tech most disadvantaged, other than truckers); companies aren't likely to quickly lower cyclicality of earnings; the truckload rate cycle is showing clear signs of deceleration; and the new infrastructure bill is still not a \"needle-mover\" for freight (with activity spread out over several years, and involving lower-rated commodities like aggregates).</li> <li>Overall in the sector, its top picks are FedEx (FDX), Norfolk Southern (NSC) and <a href=\"https://laohu8.com/S/TFII\">TFI International Inc</a>.</li> <li>And it would stay clear of truckloads (it's Underweight on <a href=\"https://laohu8.com/S/KNX\">Knight Transportation</a>), <a href=\"https://laohu8.com/S/SNDR\">Schneider National Inc.</a> and <a href=\"https://laohu8.com/S/WERN\">Werner Enterprises</a>).</li> </ul></p><p><blockquote><ul><li>运输和物流股近期业绩表现良好<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>人们对下半年更有信心，因为财报后业绩与过去几个月相比出现了好转。</li><li>该公司表示，自 5 月份以来，该股一直落后于市场和工业板块，原因是对峰值周期的担忧以及与利用创纪录运费的不确定联系。</li><li>但该公司表示，随着“通货膨胀加定价成为更有价值的属性”，铁路公司等集团已经“找到了立足点”。</li><li>摩根大通 (J.P. Morgan) 在 5 月中旬对几只股票进行了升级审查，此后又进行了升级<a href=\"https://laohu8.com/S/UPS\">联合包裹服务公司</a>在一些更大的包裹定价权和新的50亿美元回购中。</li><li>至于该行业的情绪，该公司预计市场将保持好坏参半，因为市场正在寻找上述接近创纪录运费的杠杆：“在最近 2021 年下半年增长恐慌之后，一些投资者仍然持观望态度，并更愿意避开潜在的估值下调。周期担忧达到顶峰，”它说。</li><li>UPS和<a href=\"https://laohu8.com/S/FDX\">联邦快递</a>盈利令人失望，这削弱了包裹公司的信心。铁路仍然是受青睐的通胀贸易，而<a href=\"https://laohu8.com/S/XPO\">XPO物流</a>-及其衍生产品，<a href=\"https://laohu8.com/S/GXO\">GXO物流公司</a>- 拥有“最大幅度的增量利息”。</li><li>至于铁路，在预计下半年复苏之前，第一季度到第二季度的运量下降是一个主要问题，但摩根大通并不担心，因为它表示，由于港口拥堵加剧，多式联运占季度下降的 55%，其他大宗商品环比下降并不令人意外。</li><li>总体而言，该公司表示，自 5 月中旬将它们列入“逢低买入”名单以来，它一直在升温。在那里，它是诺福克南部（NSC）$的跑赢大盘。</li><li>转向中周期股票，最大的潜在负面影响是<a href=\"https://laohu8.com/S/JBHT\">JB亨特运输</a>和C.H。摩根大通表示，Robinson Worldwide（纳斯达克股票代码：CHRW），因为当现货卡车装载动力下降时，它们通常会被降级。J.B亨特的股价远高于历史溢价，而“拥有 CHRW 的最佳时机可能已经过去”。</li><li>在更大的行业主题中，该公司表示，高频数据并不表明未来消费放缓；劳动力短缺并没有对每家公司造成同样的打击（货运技术人员处于最不利的地位，卡车司机除外）；公司不太可能迅速降低盈利的周期性；卡车装载率周期显示出明显的减速迹象；新的基础设施法案仍然不是货运的“推动者”（活动跨越数年，涉及骨料等评级较低的商品）。</li><li>总体而言，在该行业，其首选是联邦快递 (FDX)、诺福克南方航空 (NSC) 和<a href=\"https://laohu8.com/S/TFII\">TFI国际公司</a>.</li><li>它将远离卡车（这是跑输大盘<a href=\"https://laohu8.com/S/KNX\">骑士运输</a>),<a href=\"https://laohu8.com/S/SNDR\">施耐德国家公司。</a>和<a href=\"https://laohu8.com/S/WERN\">沃纳企业</a>).</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3729319-jp-morgan-bucks-second-half-worries-with-transport-picks\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JBHT":"JB Hunt运输服务","WERN":"沃纳企业公司","FDX":"联邦快递","SNDR":"Schneider National Inc.","UPS":"联合包裹","XPO":"XPO Logistics","GXO":"GXO Logistics Inc","KNX":"Knight Transportation Inc","NSC":"诺福克南方","TFII":"TFI International Inc"},"source_url":"https://seekingalpha.com/news/3729319-jp-morgan-bucks-second-half-worries-with-transport-picks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131454237","content_text":"Recent results from the transportation and logistics stocks are giving JPMorgan Chase more confidence about the second half, as post-earningsperformance has marked a turnaround from the past few months.\nThe stocks have trailed the market and the industrials sector since May, the firm says, based on worries about a peaking cycle and an uncertain connection to leveraging record freight rates.\nBut groups like rail companies have \"found their footing,\" the firm says, as \"inflation-plus pricing becomes a more valuable attribute.\"\nJ.P. Morgan had put a few stocks on review for upgrade in mid-May - and since then upgraded United Parcel Service Inc amid some greater parcel pricing power and a new $5 billion buyback.\nAs for sentiment on the sector, the firm expects it will stay mixed as the market looks for that aforementioned leverage to near-record freight: \"Some investors are still sidelined after recent 2H21 growth scares and prefer to steer clear of potential valuation de-ratings on peak of the cycle concerns,\" it says.\nUPS and FedEx earnings disappointed, which has cut sentiment on the parcel companies. Rails are still the favored inflation trade, while XPO Logistics - and its spin-off, GXO Logistics Inc - have \"the highest amount of increment interest by a wide margin.\"\nAs for rails, a volume step-down from the first quarter to the second was a key concern ahead of an expected second-half recovery, but J.P. Morgan isn't concerned as it says intermodal made up 55% of that quarterly decline, on rising port congestion - and other commodities declining month-over-month aren't really surprises.\nOverall the firm says it's been warming up to rails ever since putting them on its \"buy the dip\" list in mid-May. There, it's Overweight on Norfolk Southern(NSC)$ .\nTurning to mid-cycle stocks, there's the greatest potential downside for JB Hunt Transport and C.H. Robinson Worldwide(NASDAQ:CHRW), since they've usually de-rated when spot truckload momentum decreases, J.P. Morgan says. J.B. Hunt is well above historical premiums, while \"the best time to own CHRW has likely passed.\"\nIn larger sector themes, the firm says high frequency data isn't pointing to a consumer slowdown ahead; labor shortages aren't hitting every company the same (freight tech most disadvantaged, other than truckers); companies aren't likely to quickly lower cyclicality of earnings; the truckload rate cycle is showing clear signs of deceleration; and the new infrastructure bill is still not a \"needle-mover\" for freight (with activity spread out over several years, and involving lower-rated commodities like aggregates).\nOverall in the sector, its top picks are FedEx (FDX), Norfolk Southern (NSC) and TFI International Inc.\nAnd it would stay clear of truckloads (it's Underweight on Knight Transportation), Schneider National Inc. and Werner Enterprises).","news_type":1,"symbols_score_info":{"JBHT":0.9,"NSC":0.9,"TFII":0.9,"KNX":0.9,"UPS":0.9,"SNDR":0.9,"WERN":0.9,"FDX":0.9,"XPO":0.9,"GXO":0.9}},"isVote":1,"tweetType":1,"viewCount":2521,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":8,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/895368945"}
精彩评论