by Sam Collins 09/02/08
J.B. Hunt Transport Services Inc. (JBHT) -- This major freight company, which provides transportation services in North America, has been trading in an uptrend since late 2003
JBHT has been a favorite of the Trade of the Day and since first mentioned in 2007, the stock has appreciated by more than 70%.
On April 14, JBHT reversed at just under $29 and quickly made a new high at over $36.
On May 27, we said, "It pulled back to its 50-day moving average where it should be bought. Its trading objective is $40."
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On July 31, we reported, "Recent buying has driven the stock to another new high, so buyers may want to wait for a pullback to below $35 before entering new positions. Our target, though, has been revised upward to $46."
Falling fuel prices will positively impact JBHT's earnings, so we still project a price target of $46.
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