ArcBest price target lowered to $113 from $114 at Stifel

Stifel analyst J. Bruce Chan lowered the firm’s price target on ArcBest to $113 from $114 and keeps a Buy rating on the shares. The company’s Q1 was impacted by a difficult freight environment, with "unseasonal deterioration" into March and April, the analyst tells investors. It’s ABF, the asset-based Less-than-Truckload unit, experienced some different dynamics than other companies in the sector, namely an overall yield decline of 4% year-over-year, which is below the market, Stifel says. However, Stifel still views long-term tailwinds in several divisions and believes it is a "worthwhile risk-reward" at current levels.