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Several firms reduce their ratings on Arkansas Best (ABFS -5.4%) after weak Q1 results, released...

Several firms reduce their ratings on Arkansas Best (ABFS -5.4%) after weak Q1 results, released Friday. BofA cuts shares to Underperform and its price target to $16 from $20, citing its larger-than-expected freight decline and its move to continue spending on investments, which "has us concerned about the pace of its rebound." Wells Fargo also slashes its rating.
Comments (1)
  • If we're in a recovery, why are the trucking stocks doing so poorly. While some of the decrease may be related to greater use of intermodal, it may also reflect pricing resistance by shippers. We'll have to keep an eye on this to see if truck builders and engine makers will be affected.
    30 Apr 2012, 09:45 PM Reply Like
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