UPDATE: Morgan Keegan Raises Target to $56 on Landstar System

Morgan Keegan maintains its Outperform rating on Landstar System

and raises its price target by $5 to $56 a share on a 4Q11 beat and an encouraging guide to 2012. Morgan Keegan says, "Our 1Q12 EPS estimate goes to $0.54 from $0.52, and our FY12 outlook is for EPS of $2.75, up from $2.68. Looking out to 2013, we are forecasting EPS of $3.09 vs. our prior $3.00. We reiterate our Outperform rating and are raising our price target to $56 from $51, which is 18.0x our updated 2013 EPS estimate of $3.09." LSTR closed at $51.93 a share yesterday.