KeyBanc Raises Price Target on J.B. Hunt (JBHT) Following Q2 Results and Due to Market Trends
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Price: $275.45 +0.36%
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 17 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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KeyBanc is maintaining its Buy rating on shares of J.B. Hunt Transport Services (NASDAQ: JBHT) and is raising its price target from $52 to $54 following its Q2 earnings.
The company reported its earnings inline with the Street's expectations, but the firm notes that with higher than expected fuel, driver, truck costs it is really impressive and reinforces its favorable outlook.
The firm is raising its Q3 and 2011 EPS estimates from $0.58 and $2.13 to $0.59 and $2.14 while reiterating its 2012 estimate of $2.55.
KeyBanc reports, "We view results as favorable but acknowledge shares could trade in line Friday considering outperformance year-to-date. That said, Thursday’s release reaffirms our positive investment thesis centered on benefits from an expanded intermodal fleet, as well as benefits from improving truck fundamentals. Combined with favorable secular growth dynamics and its industry leading intermodal franchise, JBHT remains one of our core transportation ideas."
For more ratings news on J.B. Hunt Transport Services click here and for the rating history of J.B. Hunt Transport Services click here.
Shares of J.B. Hunt Transport Services closed at $47.71 yesterday.
The company reported its earnings inline with the Street's expectations, but the firm notes that with higher than expected fuel, driver, truck costs it is really impressive and reinforces its favorable outlook.
The firm is raising its Q3 and 2011 EPS estimates from $0.58 and $2.13 to $0.59 and $2.14 while reiterating its 2012 estimate of $2.55.
KeyBanc reports, "We view results as favorable but acknowledge shares could trade in line Friday considering outperformance year-to-date. That said, Thursday’s release reaffirms our positive investment thesis centered on benefits from an expanded intermodal fleet, as well as benefits from improving truck fundamentals. Combined with favorable secular growth dynamics and its industry leading intermodal franchise, JBHT remains one of our core transportation ideas."
For more ratings news on J.B. Hunt Transport Services click here and for the rating history of J.B. Hunt Transport Services click here.
Shares of J.B. Hunt Transport Services closed at $47.71 yesterday.
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