BMO Capital Reiterates Market Perform Rating, Raises PT on J.B. Hunt Transport Services
In a report released earlier today, BMO Capital Markets reiterated its Market Perform rating on J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) and raised its price target from $53 to $59.
BMO Capital said in the report “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.”
J.B. Hunt Transport Services, Inc. closed at $56 on Friday.
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