UPDATE: Dahlman Rose Raises PT on Landstar System to $53

Dahlman Rose is out with its report today on Landstar System (NASDAQ: LSTR), raising its PT from $52 to $53.

In its report, Dahlman Rose writes, "Based on the better-than-expected results/guidance, strength in the flat bed market, and Landstar's ability to replace lost business with more profitable business, we have increased our 2011 EPS estimate by $0.06 to $2.34. We have also boosted our 2012 earnings forecast by $0.05 to $2.65. Our price target changes from $52 to $53 based on applying the same 20x multiple (the mid-range of its historic range) to our new 2012 EPS."

Dahlman Rose maintains Buy on LSTR.

Shares of LSTR closed Monday at $45.76.