Shares of trucking and logistics company Landstar System Inc. leaped Monday amid a broader market rally, as an analyst said the company remains "well positioned to prosper as other companies fail."
Stifel Nicolaus analyst John G. Larkin said Monday he expects the company to benefit by adding new customers and gaining market share as other companies file for bankruptcy amid slumping demand.

Still, the next few months should be challenging for the company and others as the jilted economy continues to slow, he said. Larkin lowered his earnings per share estimates for Landstar this year and next, citing decelerating revenue. He now expects 2008 earnings per share of $2.11, compared with a previous expectation of $2.16 per share and a consensus estimate of $2.17 per share, according to a poll by Thomson Reuters. Larkin projects 2009 earnings per share of $2.20, down from a previous prediction of $2.24 per share and a consensus view of $2.26.
The analyst also said that revenue seems to be falling further this month and should be down compared with last year.
But Larkin remained optimistic about the company's ability to grow as other companies succumb to tough market conditions. He kept his "Buy" rating and $45 target price.



Shares of Landstar jumped $4.80, or 15.4 percent, to $36 in afternoon trading.