Barrington lowered the firm’s price target on Proficient Auto Logistics (PAL) to $15 from $17 and keeps an Outperform rating on the shares following the Q3 report. The firm views the quarter as an “unfortunate start as a public company due to industry weakness,” but believes that as Proficient executes its growth strategy and its margins expand, the stock’s valuation discount will dissipate over time.
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