J P M O R G A N North America Equity Research 10 July 2026 Transportation & Logistics Model Updates for 2Q26 Earnings Preview In this note we are updating estimates and price targets as part of our 2Q26 Earnings Preview, with further details available in our accompanying note and slides. Our estimates and targets have mostly modestly increased across the board, driven by higher 2027 forecasts, which reflect a better pricing environment for freight and a healthy, resilient consumer. However, we remain genera ...