Proficient Auto Logistics price target lowered to $19 from $21 at Raymond James

Raymond James lowered the firm’s price target on Proficient Auto Logistics to $19 from $21 and keeps an Outperform rating on the shares. Proficient Auto Logistics represents a unique opportunity in the transport complex to leverage a recovering auto market, declining union carrier share, and benefit from a number of internal “self-help” initiatives, the analyst tells investors in a research note. While Proficient Auto lacks direct peers, it appears the market is valuing it like a truckload operator, but the firm thinks in time it can prove it is more, offering room for multiple expansion.