Piper Jaffray Reiterates Overweight and PT of $46 on Hub Group

Piper Jaffray reiterated its Overweight rating on Hub Group HUBG. At the same, Piper Jaffray left its price target on the company's stock unchanged at $46 after a meeting with the company's senior management. In a research report published today, Piper Jaffray states, "We walked away from our meetings with greater conviction HUBG management will unlock material value from its Mode acquisition, that Mode's real earnings "juice" is in cost synergy potential which likely materializes in meaningful fashion starting in 2012, and Mode's agent model will flourish leveraging HUBG's platform. We reiterate our Overweight rating and $46 price target." On Thursday, Hub closed the day at $34.96.