Proficient Auto Logistics price target lowered to $21 from $22 at Stifel

Stifel lowered the firm’s price target on Proficient Auto Logistics to $21 from $22 and keeps a Buy rating on the shares. While the firm thinks the longer-term opportunity for the company and the stock are still meaningful, and “arguably stronger today than earlier this year when it debuted to the public market,” it is focused on softer automotive demand in the second half of this year, as well as the potential for port disruption in the early part of Q4, and is positioning more conservatively on the top line as a result of these factors, the analyst tells investors in an earnings preview.