Following reports that Yellow (YELL) is shutting down operations, Stifel analyst J. Bruce Chan noted that the firm has been positive on the LTL space for the past year, with part of its thesis being predicated on the potential for a Yellow bankruptcy. While Stifel believes that most of the opportunity has been priced into the stocks, it thinks there remain a few names with ongoing idiosyncratic self-help programs and/or impending re-ratings that could still see upside, especially with the added operating tailwind from an influx of freight. The firm highlighted Forward Air (FWRD), ArcBest (ARCB), and TFI International (TFII) as companies that could see upside and reiterated Buy ratings on all three.
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Read More on YELL:
- Saia price target raised to $450 from $330 at Benchmark
- Yellow ceased operations Sunday, preparing bankruptcy, WSJ reports
- Yellow laid off large number of workers today, WSJ reports
- Yellow Corp. is engaged with parties interested in sale of Yellow Logistics
- Yellow Logistics, a Third-Party Logistics Broker and Subsidiary of Yellow Corporation, Flourishes as Shippers and Vendors Turn to 3PL Logistics Providers