P.A.M. Transportation price target lowered to $19 from $22 at Stephens

Stephens lowered the firm’s price target on P.A.M. Transportation (PTSI) to $19 from $22 and keeps an Equal Weight rating on the shares. The company continues to improve its truck fleet, taking out 100 older assets in the quarter, positioning it for the eventual market improvement, but the firm stays at Equal Weight, citing the company’s outsized automotive exposure and a lack of visibility into that end-market improving.