Stifel analyst J. Bruce Chan lowered the firm’s price target on Proficient Auto Logistics (PAL) to $14 from $15 and keeps a Buy rating on the shares. 2024 largely proved to be “the slow transition back to normalcy that we’d anticipated it being a year ago” and entering 2025 with earnings expectations reset lower and investors adjusted to this “new normal,” the firm views transportation and logistics stock valuations as “unappreciative of the unique demand risks in today’s supply-driven recovery,” the analyst tells investors in a 2025 transportation outlook note.