Arko Corp. price target lowered to $10 from $11 at Raymond James

Raymond James lowered the firm’s price target on Arko Corp. (ARKO) to $10 from $11 and keeps a Strong Buy rating on the shares. Arko’s Q1 results were fairly close to consensus, and modestly above the mid-point of management’s guidance, with Q1 representing the smallest year over year adjusted EBITDA decline in the past several quarters, which is encouraging, the analyst tells investors in a research note. There are opportunities to improve performance over the coming quarters and the market’s current valuation for Arko gives very little credit for any improvements, the firm argues.