UPDATE: Deutsche Bank Raises PT on Landstar System to $50

Deutsche Bank is out with its report today on Landstar System (NASDAQ: LSTR), raising its PT from $48 to $50.

In its report, Deutsche Bank writes, "We have raised our 2011-12E EPS estimates to $2.33 and $2.65 from $2.29 and $2.56. Our increased estimates reflect the Q3 beat and incorporate both raised Q4 guidance and stronger than expected pricing improvement. Our $50 PT is based on a raised 19x our new 2012 EPS estimate of $2.65."

Deutsche Bank reiterates Buy on LSTR.

At the time of posting, shares of LSTR were trading pre-market at $46.33, up 1.25% from Monday's close.