ArcBest price target raised to $93 from $83 at Stifel

Stifel raised the firm’s price target on ArcBest (ARCB) to $93 from $83 and keeps a Buy rating on the shares. Less-Than-Truckload stocks have appreciated as valuations have expanded, notes the analyst, whose channel checks indicate that trends through June “remained sub-seasonal, but stable.” Q2 is typically a seasonally stronger quarter for LTL margins, but the firm remains cautious due to the choppy demand backdrop, although core pricing “still seems solid,” the analyst added in an earning preview for the group.