UPDATE: Piper Jaffray Raises PT on Arkansas Best to $27

Piper Jaffray is out with its report today on Arkansas Best ABFS, raising its PT from $25 to $27. In a note to clients, Piper Jaffray writes, "We raised our 2Q11 EPS to $0.10 (up from a loss of $0.15) and our 2011 EPS is now $0.06 (versus a loss of $0.29 previously). Our 2012 EPS is $1.95 (compared to $1.80 previously). Maintaining our Neutral rating and raising our PT to $27 based on unchanged 14x our raised 2012E EPS." Shares of ABFS closed Monday at $26.07, down 1.36% from Friday's close.