Piper Jaffray's Freight Update

Upon publishing its research report for the International Airfreight, Piper Jaffray concludes:

"We believe recent intermodal volume data as well as international airfreight capacity additions out of Asia continue to reflect a strong recovery within the global Transport market. Inventory restocking (middle to later innings), business capital equipment catch-up, and new products coming to market will likely drive strong Transport volume growth through the remainder of the year, albeit 2H10 growth rates, due to tougher comps, will likely moderate (already in our models). We believe FDX, UPS, ODFL, WERN, JBHT, LSTR, and HUBG (all rated Overweight) are the best ways to play continued improvement."

Focus companies for this update from Piper Jaffray include:

Arkansas Best Corporation
(NASDAQ: ABFS) $22.87
CH Robinson Worldwide
(NASDAQ: CHRW) $67.11
Con-way Inc.
(NYSE: CNW) $28.62
Expeditors International of Washington
(NASDAQ: EXPD) $44.06
FedEx Corporation
(NYSE: FDX) $82.66
Forward Air Corporation
(NASDAQ: FWRD) $25.35
Heartland Express, Inc.
(NASDAQ: HTLD) $14.28
Hub Group, Inc.
(NASDAQ: HUBG) $29.25
JB Hunt Transport Services
(NASDAQ: JBHT) $34.66
Knight Transportation
(NYSE: KNX) $18.86
Landstar System, Inc.
(NASDAQ: LSTR) $37.20
Old Dominion Freight Line
(NASDAQ: ODFL) $24.91
Ryder System, Inc.
(NYSE: R) $42.07
Universal Truckload Services
(NASDAQ: UACL) $14.88
United Parcel Service, Inc.
(NYSE: UPS) $66.39
Uti Worldwide, Inc.
(NASDAQ: UTIW) $15.38
Werner Enterprises, Inc.
(NASDAQ: WERN) $19.98