UPDATE: Stifel Reiterates Buy Rating, Raises PT on Universal Truckload Services on Increased 3Q14 Guidance

In a report published Monday, Stifel analyst John Larkin reiterated a Buy rating on

, and raised the price target from $34.00 to $35.00. In the report, Stifel noted, “In an 8-k filed Friday afternoon, Universal provided an updated outlook for 3Q14 revenue and EPS. The company now expects to earn between $0.42 and $0.45 in EPS on $300-$310 million in revenue. The company cited strength in their transportation and intermodal segments, with relative stability in their logistics segment. This range is fully above our previous expectations for both revenue and EPS (we had previously modeled $0.40 in EPS on $278 million in revenue). The Street consensus estimates prior to the company's release had called for $0.42 in EPS on $287 million in revenue.” Universal Truckload Services closed on Friday at $23.24.