UPDATE 1-Baird raises price target on US trucking/logistics cos

(Adds details)

June 13 (Reuters) - Robert W. Baird raised its price target
on a host of U.S. trucking and logistics companies and
recommended that investors obtain exposure to the U.S. freight
environment ahead of "a freight pricing renaissance."

"When the domestic freight environment does rebound, the
trucking industry is positioned to garner significant and
sustained rate increases, given the meaningful exodus of
capacity and inflationary cost environment," analyst Jon
Langenfeld said in a note to clients.

While challenging conditions are likely in the second half
of 2008, it typically pays to be early in the trucking space,
Langenfeld said.

Industry contacts confirm that less-than-truckload pricing
has firmed, truckload pricing is modestly improving and overall
trucking demand is also inching higher, the analyst added.

Langenfeld upgraded Con-way Inc (CNW.N: Quote, Profile, Research) and Old Dominion
Freight Line (ODFL.O: Quote, Profile, Research) to "outperform" from "neutral," but said
it was cutting trucking estimates to reflect fuel costs and a
challenging second half.

The following table shows the price target changes and
ratings:
COMPANY PRICE TARGET CURRENT
PRICE RATING

New Old June 12
Close
Con-way Inc (CNW.N: Quote, Profile, Research) $61 $52 $45.99

Outperform
Old Dominion Freight Line (ODFL.O: Quote, Profile, Research) $38 $32 $27.44

Outperform
Heartland Express (HTLD.O: Quote, Profile, Research) $16 $15 $14.71

Neutral
JB Hunt Transport Services (JBHT.O: Quote, Profile, Research) $41 $37 $33.41

Outperform
Knight Transportation (KNX.N: Quote, Profile, Research) $19 $18 $17.08

Neutral
YRC Worldwide (YRCW.O: Quote, Profile, Research) $15 $12 $14.95

Neutral
(Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by
Amitha Rajan)