Proficient Auto Logistics price target raised to $21 from $18 at Raymond James

Raymond James analyst Patrick Tyler Brown raised the firm’s price target on Proficient Auto Logistics to $21 from $18 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. The auto hauling industry has higher barriers to entry vs. truckload, and recent woes in the auto market may set up the auto hauling industry up for an idiosyncratic pricing cycle, the firm argues.