UPDATE: Wunderlich Securities Reiterates on Heartland Express as Growth Narrative Finally Begins to Unfold

In a report published Thursday, Wunderlich Securities analyst Chaz Jones reiterated a Hold rating on Heartland Express HTLD, and raised the price target from $18.00 to $20.00. In the report, Wunderlich Securities noted, “Heartland (HTLD) reported 4Q13 EPS of $0.18 vs $0.20 consensus but this included $0.02 of acquisition and integration related costs from its recent purchase of Gordon (GTI). GTI was acquired in mid-November, was accretive to 4Q13 results, and substantially improves HTLD's growth narrative as a transformative transaction. The acquisition is progressing smoothly and has been well received by customers and drivers. Moving forward, HTLD will focus on updating GTI's tractor and trailer fleet and fully integrating the operations of both entities under a single platform. HTLD confirmed that demand strengthened in 4Q13 and January was seasonally strong in between weather. We reiterate our Hold rating, as we feel shares fully reflect acquisition synergies and little integration risk.” Heartland Express closed on Wednesday at $20.40.