ArcBest price target raised to $86 from $74 at BofA

BofA raised the firm’s price target on ArcBest (ARCB) to $86 from $74 and keeps a Neutral rating on the shares. The firm notes that ArcBest’s CEO Judy McReynolds, who has been CEO since 2010, is retiring, effective December 31. President Seth Runser, who has been President of ABF Freight, the company’s less-than-truckload segment since 2021, and President of ArcBest since 2024, will become the company’s fourth CEO in the past 38 years. BofA sees the move as a natural progression in ArcBest’s leadership transition.