ArcBest downgraded to Neutral from Outperform at Credit Suisse

Credit Suisse analyst Ariel Rosa downgraded ArcBest to Neutral from Outperform with a price target of $127, up from $104. The analyst believes ArcBest remains one of the carriers best positioned to benefit from increased density as its competitor Yellow cedes business. However, recent gains in the company’s share price suggest investors are aligned in this view, the analyst tells investors in a research note. The firm sees an opportunity to lock in recent profit gains, saying the new labor contract presents a “sizeable headwind” to year-ahead margins.