Seeking Alpha

Arkansas Best slides as Deutsche steps to sidelines

  • Arkansas Best (ABFS -4.7%) is trading notably lower.
  • Deutsche's Justin Yagerman is out with a valuation call, cutting the shares to Hold from Buy as the risk/reward seems more balanced with the stock trading just 7% below the firm's target price.
  • "We remain optimistic that ABFS will eventually be able to implement the 7% Teamster wage reduction," Yagerman says, before cautioning that "the timetable has been pushed back by at least two months."
  • Price target maintained at $29.
  • It may indeed be time for a breather: The stock is up 169% since May 6, when the company came to a tentative agreement with the Teamsters.
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