UPDATE: Wunderlich Initiates P.A.M. Transportation Services with Buy on Turnaround

In a report published Wednesday, Wunderlich Securities analyst Chaz Jones initiated coverage on P.A.M. Transportation Services

with a Buy rating and $15.00 price target. In the report, Jones noted, “PTSI is a dry van truckload carrier that provides service in the U.S. and parts of Mexico. We view PTSI as a deep value turnaround story. Foundational issues addressed in recent years include management and cultural changes, a revamped salesforce, establishment of brand awareness, and implementation of key performance indicators. PTSI's transitional phase focuses on refining its freight network and mix, diversifying its customer base, and cultivating process enhancements. While we are gaining confidence in sustainable profits, further pricing improvement and stronger demand are needed to reach historical peak margins.” P.A.M. Transportation Services closed on Tuesday at $11.37.