UPDATE: Citigroup Raises Target on JB Hunt to $60

Citigroup increases its price target on Neutral-rated JB Hunt

from $55 to $60 as the company delivers a solid beat for Q1. Citigroup notes, "We are increasing our 2012 and 2013 EPS estimates by 6% and 4%, respectively, as we are increasing our target for Intermodal load growth (to 14% from 10% in 2012) and Dedicated profitability. We are also increasing our price target to $60, from $55, as we are applying a higher target multiple of 23x, given its earnings growth pace." JBHT closed at $55.84 on Thursday.