Piper Jaffray Raises J.B. Hunt Transport Services Price Target (JBHT)

In a research report published today, Piper Jaffray raises J.B. Hunt Transport Services' JBHT price target from $42 to $48 and reiterates its Overweight rating. "JBHT is scheduled to report 4Q10 earnings on Friday, January 28 th. We believe that a tight US Supply Chain driven by accelerating demand (greater potential post recent forward macro indicators) and more so capacity constraints in 2011 results in (1) TL industry yield upside and (2) modal shift from TL to Intermodal rail. Our analysis below looks at JBHT sensitivity to both scenarios moving forward. Given increased conviction in our thesis playing out we've raised our EPS and price target from $42 to now $48 and believe JBHT could be the perfect mouse trap for capturing both stronger TL yields and intermodal market share gains," Piper Jaffray states. J.B. Hunt Transport Services shares are currently trading at $42.42, up 0.47% from Friday's market close.