J.B. Hunt price target raised to $250 from $245 at BMO Capital

BMO Capital raised the firm’s price target on J.B. Hunt (JBHT) to $250 from $245 and keeps an Outperform rating on the shares. The company’s better-than-expected Q1 results were underpinned by continued progress in lowering the cost to serve, with incremental cost savings of over $30M realized in the quarter, the analyst tells investors in a research note. With the truckload market appearing materially tighter and increasingly sensitive to changes in demand, J.B. Hunt remains well positioned to deliver differentiated performance in an upcycle through self-help initiatives, stronger pricing power, and the ability to leverage excess capacity, the firm added.