Citi upgraded ArcBest (ARCB) to Buy from Neutral with a price target of $89, up from $79, following last week’s investor day. The company expects free cash flow well above Street estimates, which is possible given the “favorable turn” in the freight cycle, the analyst tells investors in a research note. The firm says ArcBest offers some of the highest operating leverage in transports to the cycle.
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Read More on ARCB:
- ArcBest price target raised to $87 from $85 at JPMorgan
- ArcBest upgraded to Buy from Neutral at Citi
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