Proficient Auto Logistics (PAL) PT Raised to $18 at Stifel

Stifel analyst Bruce Chan raised the price target on Proficient Auto Logistics (NASDAQ: PAL) to $18.00 (from $17.00) while maintaining a Buy rating.

The analyst commented, “Proficient announced the acquisition of Pennsylvania-based Brothers Auto Transport, LLC. Terms weren't disclosed, but management suggested that it's a smaller deal than Auto Transport Group last year (~$49.5mm). We believe the margin profile is commensurate with some of Proficient's more profitable transactions and estimate an average OR in the low-90%-to-high-80% range. The company expects Brothers to be immediately accretive, and importantly, add 13% capacity in the wake of #2 player Jack Cooper shuttering in February. For investors that might have missed it, Proficient disclosed in its recently-filed 10-K that incremental wins post-Cooper should ramp throughout the year and represent a ~15% increase over 2024 pro-forma combined revenue, or ~$60mm, which is conservative, in our view. Tariff concerns and the unlock of a tranche of restricted IPO shares have weighed on the stock, but we continue to believe that PAL is one of the best idiosyncratic stories this year. Reiterate Buy.”

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