Stifel lowered the firm’s price target on ArcBest (ARCB) to $83 from $102 and keeps a Buy rating on the shares. The quarter “wasn’t too bad considering the general state of freight and some high-profile misses from public LTL peers,” but shares sold off due to weaker pricing metrics, which decelerated as the quarter progressed and into April, the analyst tells investors. The firm sees an opportunity for the stock to re-rate longer term on better execution, but that also likely takes a firmer market, the analyst added.
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Read More on ARCB:
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