Market Overview

Piper Jaffray's Freight Update: Week 41


Piper Jaffray has published a Freight Update report from week 41 on Intermodal Volume.

In the report, Piper Jaffray writes "We believe broader Freight market fundamentals continue to improve thus far in 4Q10 albeit volume growth rates are moderating due to tougher comparisons and some market demand moderating (mainly TL). We continue to believe price improvements will offset growth moderation and drive higher earnings for our covered Transport names moving forward. Week 41 Class I rail volumes increased 15.1% y-o-y off of a tougher comp, and accelerated from 13.1% growth during Week 40. We believe US Class I intermodal peak season appears to be in full swing following a more normalized historical peak pattern. We continue to believe FDX, UPS, ODFL, WERN, JBHT, LSTR, and HUBG (all rated Overweight) are the best ways to play continued improvement."

Companies related to this update include:

Arkansas Best Corporation (NASDAQ: ABFS) $25.49
CH Robinson Worldwide (NASDAQ: CHRW) $72.40
Con-way Inc. (NYSE: CNW) $31.22
Expeditors Int'l of Washington (NASDAQ: EXPD) $49.23
FedEx Corp. (NYSE: FDX) $88.57
Forward Air Corp. (NASDAQ: FWRD) $26.84
Heartland Express (NASDAQ: HTLD) $14.96
HUB Group (NASDAQ: HUBG) $32.12
JB Hunt Transport Services (NASDAQ: JBHT) $36.32
Knight Transportation (NYSE: KNX) $18.18
Landstar System (NASDAQ: LSTR) $37.81
Old Dominion Freight Line (NASDAQ: ODFL) $26.06
Ryder System (NYSE: R) $44.66
Universal Truckload Services (NASDAQ: UACL) $14.55
United Parcel Service (NYSE: UPS) $69.59
UTI Worldwide (NASDAQ: UTIW) $18.92
Werner Enterprises (NASDAQ: WERN) $20.74


Related Articles (ABFS + CHRW)

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