Jefferies Raises PT On JBHT To $55

Jefferies has raised its price target from $53 to $55 on J.B. Hunt Transport Services JBHT in light of solid 2Q numbers. Says Jefferies, in its report, “We are raising our estimates and year-end 2011 price target to $55 (from $53) following JBHT's solid 2Q into the company's accelerating intermodal volume growth. We see JBHT as one of the best ways to play continued strength in intermodal trends, both in terms of international trade expansion and truck to rail conversions for years to come.” Jefferies maintains a Buy rating on the stock. JBHT closed yesterday at $47.71.