ABF | Analyst upgrades Arkansas Best on wage cut deal

[R-14Driver]

NEW YORK -- An FBR Capital analyst upgraded shares of Arkansas Best Corp. to "Market Perform" from "Underperform," saying its tentative deal with workers to reduce their wages will help hold up the trucking company's bottom line.FBR analyst Christian Wetherbee also raised his price target to $34 from $29, citing a much-improved profit outlook for 2011. He raised his 2011 earnings prediction to $2.21 per share from $1.40 per share.The company, based in Fort Smith, Ark., says the deal will help it weather still-weak conditions in the trucking industry. The cuts, if approved, would last until the end of workers' current contract in 2013. Nonunion employees have already taken some compensation concessions................

http://www.forbes.com/feeds/ap/2010/04/20/business-industrials-us-arkansas-best-analyst-note_7530488.html

 

[youngtaco]

Good find. Thanks for posting.

 

[leftyblack]

[quote author=R-14Driver link=topic=79401.msg823180#msg823180 date=1271774047]
NEW YORK -- An FBR Capital analyst upgraded shares of Arkansas Best Corp. to "Market Perform" from "Underperform," saying its tentative deal with workers to reduce their wages will help hold up the trucking company's bottom line.FBR analyst Christian Wetherbee also raised his price target to $34 from $29, citing a much-improved profit outlook for 2011. He raised his 2011 earnings prediction to $2.21 per share from $1.40 per share.The company, based in Fort Smith, Ark., says the deal will help it weather still-weak conditions in the trucking industry. The cuts, if approved, would last until the end of workers' current contract in 2013. Nonunion employees have already taken some compensation concessions................

http://www.forbes.com/feeds/ap/2010/04/20/business-industrials-us-arkansas-best-analyst-note_7530488.html
[/quote] IF THIS DEAL GOES THRU & THE STOCK VALUE RAISES IT MEANS THAT ALL THE TOP MANAGEMENT WILL GET THEIR DIVIDENS ON ALL THE STOCKS & MAKE A VERY NICE PERSONAL PROFIT OFF YOUR CONCESSION