) to outperform from peer perform.
Analyst Edward Wolfe said the company Thursday filed an 8-K noting that it modified its 2005 disaster-relief contract with the Department of Transportation, raising the cap to a potential $400 million in revenue; also, the company announced a new contract for 2006, capped at $100 million. Further, the company said it had thus far booked $22 million in Dennis revenue in the third quarter 2005. The analyst says the 8-K provides him greater visibility on: 1) Landstar's potential amount of Katrina-related relief revenue, 2) the duration of potential disaster-relief revenue. Accordingly, the analyst upped his $1.56 2005 earnings per share estimate to $1.64, $1.77 2006 to $1.83. He maintained his $45 year-end 2006 target.