Goldman Sachs raised the firm’s price target on ArcBest (ARCB) to $117 from $102 and keeps a Buy rating on the shares after its Q1 earnings beat. The company’s consolidated EBIT exceeded estimates, reflecting higher than forecast LTL EBIT on below forecast revenue and a better operating ratio, the analyst tells investors in a research note. The firm is raising its estimates and price target to reflect better margin and revenue trends relative to its prior forecast.
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Read More on ARCB:
- ArcBest Price Target Raised to $137 as Solid Fundamentals Meet Full Valuation, Justifying Hold Rating
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- ArcBest Shareholders Approve Texas Reincorporation and Governance Items
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