Proficient Auto Logistics price target lowered to $17 from $18 at Stifel

Stifel lowered the firm’s price target on Proficient Auto Logistics (PAL) to $17 from $18 and keeps a Buy rating on the shares. The Truckload shipping market is “as close to equilibrium as any point since 2018-19, but against deteriorating demand fundamentals it won’t mean much for earnings,” says the analyst. For investors that are more optimistic for a cycle recovery, the firm sees better risk-adjusted opportunity in the “more fundamentally-sound” Less-than-Truckload group, the analyst added in a preview.