Citi Reiterates Buy on Arkansas Best

Citi is out with its report today on Arkansas Best ABFS, reiterating Buy. In a note to clients, Citi writes, "We reiterate our Buy rating and $28 price target, but note that a favorable outcome in its lawsuit could provide additional value which is not factored into its share price. With a range of outcomes from no incremental value to $141 million, we believe material upside could be added to our target price, with the most probable range between $5 - $6 per share." Shares of ABFS closed Tuesday at $22.44, up 2.14% from Monday's close.