UPDATE: J.B. Hunt Transport Services (JBHT) PT Raised to $170 at Morgan Stanley

(Updated - April 19, 2022 6:32 AM EDT)

Morgan Stanley analyst Ravi Shanker raised the price target on J.B. Hunt Transport Services (NASDAQ: JBHT) to $170.00 (from $165.00) after the company reported adj. EPS of $2.29 vs cons. of $1.94, and $1.37 LY. Total revenues were $3.489 bn vs. cons. $3.286 bn and +33.2% y/y.

The analyst reiterated an Equalweight rating, noting IM Revenues were the highlight and stated "IM Revenues came in ~5% above MSe and ~6% cons. on loads ~3% above MSe and rev/load ~1% higher (though 27.6% above LY). Mgmt. noted that box turns improved through the quarter but remained disappointing and average LoH continued to decline to 1,671 from 1,693 in 4Q and 1,687 LY." "If a print like this is not enough to get investors to try and bottom-fish, then this is going to be a long 1Q earnings season for the rest of the group."

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