UPDATE: BMO Capital Markets Raises PT to $59 on JB Hunt
BMO Capital Markets raises its price target from $53 to $59 on Perform-rated JB Hunt (NASDAQ: JBHT) on upside from higher fuel prices.
BMO Capital Markets comments, "Intermodal volumes improved 16% and benefited from higher fuel prices and tight capacity in the truck market. We expect ongoing truck-to-train conversion, penetration of new markets and higher fuel prices to continue to bode well for intermodal volumes. Meanwhile, DCS operating income surged 51% on revenue growth of 7% owing to productivity improvements, improved cost controls and a shift to more profitable accounts. We believe the company has built an outstanding platform with significant and sustainable competitive advantages."
JBHT closed at $56 on Friday.
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