Arko Corp. price target lowered to $8 from $10 at Raymond James

Raymond James analyst Bobby Griffin lowered the firm’s price target on Arko Corp. (ARKO) to $8 from $10 and keeps a Strong Buy rating on the shares. Adjusted EBITDA came in modestly ahead of expectations, and retail segment same-store sales trends improved notably in July versus Q2 averages, the analyst tells investors in a research note. The firm says now is not the right time to “throw in the towel,” given the very steep implied discount valuation on the retail business and operational improvement strategy starting to show results.