ArcBest initiated with a Buy at Truist

Truist initiated coverage of ArcBest (ARCB) with a Buy rating and $93 price target The firm sees “significant” earnings growth potential within the company’s asset-light business segment. ArcBest’s investments in real estate expansion, fleet modernization and technology provide enhancements to the company an asset-based cost structure, the analyst tells investors in a research note. The firm sees an attractive valuation at current share levels.