In a report published Wednesday, Credit Suisse analyst Allison M. Landry reiterated an Outperform rating on JB Hunt Transport Services Inc. JBHT, and raised the price target from $88.00 to $91.00.
In the report, Credit Suisse noted, "We met with JBHT management in Arkansas on Tuesday. In our view, the overall tone was optimistic, as a few material favorable developments have emerged since the company issued its 2015 guidance in November. Specifically, intermodal rates are rising at a faster rate than anticipated; rail service has improved (the '15 guide assumes no improvement on this front); and the Dedicated business is performing better than expected. Another potentially significant positive could come in the form of a boost in consumer demand from anticipated tax refunds. As such, we think there is upside risk to numbers in 2015 (and beyond) - marking an inflection point following several months of downward revisions to Street ests. Despite Hunt's growing confidence in its businesses, mgmt has not changed its FY15 guide, given that it's still relatively early in the year."
JB Hunt Transport Services Inc. closed on Tuesday at $83.77.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in