J.B. Hunt price target raised to $167 from $151 at Stifel

Stifel analyst J. Bruce Chan raised the firm’s price target on J.B. Hunt to $167 from $151 and keeps a Hold rating on the shares. J.B. Hunt’s Q3 EPS exceeded the consensus estimate, with intermodal volumes helping drive upside, and while management didn’t isolate exactly how much was a result of inventory pull forward, pre-build was a big factor, the analyst tells investors in a research note. Though there were bright spots in the quarter, but there’s still a lot of “wood to chop” on pricing, volume, and cost savings next year, Stifel says.