J.P. Morgan Comments On J.B. Hunt Transport Services 1Q Upside
According to J.P. Morgan, J.B. Hunt Transport Services (NASDAQ: JBHT) upside 1Q shows strong intermodal momentum.
J.P. Morgan reported that despite challenging weather conditions and a headwind in their truck businesses from higher fuel prices, JBHT reported strong 1Q11 EPS which were modestly above Consensus expectations. “JBHT’s 1Q showed continued momentum in intermodal with 15% y/y volume growth and base pricing of 4% which was better than we had expected. We are raising our EPS estimates and price target. JBHT stock has performed well so far in 2011, but we believe that the strong 1Q results indicate that meaningful upside remains for the stock.”
J.B. Hunt Transport Services closed yesterday at $44.81.
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