Market Overview

UPDATE: Bank of America Upgrades J.B. Hunt Transport Services to Buy; 3Q Fears Overdone

Related JBHT
Trucking Sector Sinks On Valuation, Growth Outlook
Morgan Stanley: Freight Cycle Favors Shippers Over Truckers
Making Money With Charles Payne: 11/20/14 (Fox Business)

Bank of America raised its rating on J.B. Hunt Transport Services (NASDAQ: JBHT) from Neutral to Buy with a reiterated $60 price objective.

Bank of America noted, "While this upgrade is valuation generated, as the shares have fallen 14% since mid-June (7% over the past month), it also is driven by the potential for reaccelerating Intermodal volumes in late 2012 as truckload conversions continue and as Norfolk Southern completes its fourth new Intermodal yard this year. JBHT's shares are trading at 17.4x our 2013 EPS estimate, in line with its historical average. We believe that fears about soft 3Q12 trucking and intermodal results and resultant earnings pressure are built into expectations."

J.B. Hunt Transport Services closed at $51.90 on Tuesday.

Latest Ratings for JBHT

DateFirmActionFromTo
Nov 2014Credit SuisseMaintainsOutperform
Nov 2014MacquarieMaintainsNeutral
Oct 2014Credit SuisseMaintainsOutperform

View More Analyst Ratings for JBHT
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (JBHT)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional