ArcBest: Near-Term Margin Pressures and Limited Upside Keep Rating at Hold Despite Longer-Term Recovery PotentialWe reiterate our Neutral rating on ARCB shares, yet increase our PO to $84 (from $72), on 18.5x our ‘26e EPS (from 16.0x). Our target moves above its 8x-14x five-year range as earnings move past trough levels, and we see momentum in share gains with core customers mitigating core yield pressure. We lower our 4Q25e and ’26e EPS 4% and 1%, to $0.54 and $4.50, from $0.56 and $4.55, respectively.