The triumvirate of big, positive earnings surprises last night is lifting the stocks of United Parcel Service (UPS), trucking firm JB Hunt (JBHT), and Yum Brands (YUM), as estimates go higher and ratings upgrades flow in.
UPS last night pre-announced Q1 profit of 71 cents per share, a full 13 cents better than expected, on the first year-over-year freight volume increase in the U.S.
William Blair analysts this morning raised their rating on the stock to “Outperform” from “Market Perform.” Piper Jaffray raised the stock to “Overweight” from “Neutral,” and Raymond James raised the stock to “Outperform” from “Market Perform.” Price targets now range from $74 to $82.50 at Jesup & Lamont.
JB Hunt last night beat Q1 profit by two cents on higher-than-expected revenue. FBR Capital raised the stock to “Outperform” from “Market Perform” with a $43 price target. RBC Capital raised the firm’s price target on JBHT to $42 from $37, and JP Morgan analysts write that there’s “meaningful upside” for the stock.
And Yum Brands, which owns KFC and other fine dining establishments (;-)) last night reported Q1 sales of $2.35 billion, about $100 million more than expected, and profit of 59 cents per share, 6 cents better than expected.
JB Hunt shares were up $1.60, or 4.3%, at $38.66. UPS is up $4.07, or 6.2%, at $69.52. Yum rose $1.51, or 4%, to $43.18.
Fedex (FDX) joined in the UPS rally this morning, receiving an upgrade by William Blair analysts to “Outperform” from “Market Perform.” The stock is now up $3.12, or 3%, at $97.13.
JP Morgan Chase (JPM), however, drifted downward following strong earnings yesterday. Its stock was off 2 cents at $47.71.
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