NEW YORK (TheStreet) -- Shares of JB Hunt Transport Services Inc. (JBHT) are up 2.30% to $78.71 after Credit Suisse (CS) upgraded its rating to "outperform" from "neutral" and raised its price target to $86 from $78, following the company's second quarter earnings report, which showed a 6.5% rise in profit.
Credit Suisse also raised its fiscal year 2014 earnings per share estimate to $3.17 from $3.15, and boosted its fiscal year 2015 and fiscal year 2016 forecasts to $3.87 and $4.37 from
$3.78 and $4.25, respectively.
"It now appears that we have reached an inflection point whereby the majority of the negative news over the past several months finally appears to be priced into the stock," the firm said in its note.
Separately, TheStreet Ratings team rates JB Hunt Transportation Services Inc. as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate JB Hunt Transportation Services Inc. (JBHT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
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