Jefferies Raises Estimates and Price Target On JB Hunt Transport Services

According to Jefferies, JB Hunt Transport Services JBHT estimates and price target are raised. Jefferies reported that it is raising estimates and its year-end 2011 price target for JBHT to $53. “We have increased conviction that JBHT can continue to grow intermodal volumes by mid-teen's this year, with strength likely carrying over into 2012. All considered, we think JBHT's model sets up increasingly well given the macro backdrop of potentially rising rates and inflationary cost pressures. Our $53 price target is based on a target 20.0x P/E on our 2012e estimate of $2.66. Risks include fuel; weather disruptions; and freight volumes.” JB Hunt Transport Services closed yesterday at $47.53.