Market Overview

UPDATE: Stephens Reiterates on Arkansas Best Corporation After Teamsters Reject Strike Authorization

Share:
Related ABFS
UPDATE: Deutsche Bank Raises PT on Arkansas Best on 2014 Transport Outlook
UPDATE: Bank of America Reiterates on Arkansas Best on Raised EPS Estimates

In a report published Wednesday, Stephens analyst Brad Delco reiterated an Overweight rating on Arkansas Best Corporation (NASDAQ: ABFS), and raised the price target from $30.00 to $36.00.

In the report, Stephens noted, “We reiterate our Overweight rating and are raising our target to $36 (was $30) following notification that the union employees covered by the Central Region Local Cartage supplement voted ‘overwhelmingly to reject a strike authorization.' While the next steps toward finalizing the national agreement will be determined shortly, we think this eliminates a significant hurdle to completing the negotiating process. Once complete, we believe ABFS will be in a better position to compete with its non-unionized peers and will return the Company to a path of sustainable profitability.”

Arkansas Best Corporation closed on Tuesday at $27.60.

Latest Ratings for ABFS

DateFirmActionFromTo
Jan 2014CitigroupMaintainsBuy
Dec 2013Deutsche BankMaintainsHold
Dec 2013JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for ABFS
View the Latest Analyst Ratings

Posted-In: Brad Delco StephensAnalyst Color Price Target Analyst Ratings

 

Related Articles (ABFS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
FOLDCitigroupUpgrades0.0
EMNMorgan StanleyUpgrades90.0
DERMRaymond JamesUpgrades0.0
ARMKBerenbergUpgrades0.0
PENNNomuraUpgrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Why Gold Might Surge to the $5000 Mark by 2016 - Part 1

Pre-Market Global Review - 10/30/13 - FOMC Day