J.B. Hunt price target raised to $176 from $170 at JPMorgan

JPMorgan raised the firm’s price target on J.B. Hunt (JBHT) to $176 from $170 and keeps an Overweight rating on the shares. The firm expects J.B. Hunt to outperform after a “surprising” earnings beat. The company’s cost cutting program and efficiency targets launched last quarter have “clearly materialized,” the analyst tells investors in a research note. JPMorgan believes the quarterly results will hep prove to investors that J.B. Hunt’s cost reduction program can improve margins.