UPDATE: Sterne Agee Raises PT to $47 on Hub Group on Q4 Upside
Sterne Agee maintained Hub Group (NASDAQ: HUBG) with a Buy and raised the price target from $44.00 to $47.00.
Sterne Agee said, "From the sound of it, HUBG's two-year long restructuring may be nearly complete as Truck Brokerage and Logistics margins improved meaningfully this quarter. Railroad intermodal shows improved profits from a higher drayage penetration as well, leading us to believe that HUBG could be in a position once its 2013 capital budget is behind them to use their free cash flow to generate additional growth again. One quarter does not make a trend, but bears watching."
Hub Group closed at $37.20 on Tuesday.
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