UPDATE: Jefferies Reiterates Hold Rating, Raises PT on J.B. Hunt Transport Services Following 2Q Report Miss

In a report published Tuesday, Jefferies analyst Peter Nesvold reiterated a Hold rating on

, and raised the price target from $70.00 to $74.00. In the report, Jefferies noted, “JBHT's 2Q report missed consensus by $0.01, although we view the quarter as a modest beat operationally, due to implementation costs in the DCS segment, IT write-offs, and damaged equipment write-offs. We believe the strength in intermodal volumes (+12.3% YoY) was the biggest positive takeaway from the quarter. JBHT continues to have a long runway in the intermodal growth story, but valuation keeps us on Hold.” J.B. Hunt Transport Services closed on Monday at $76.22.