ArcBest price target lowered to $119 from $127 at TD Cowen

TD Cowen analyst Jason Seidl lowered the firm’s price target on ArcBest to $119 from $127 and keeps an Outperform rating on the shares. The analyst said 1Q results came in below expectations as weak spot markets pressured the asset-based yield profile. Core LTL pricing remains in the black but could see improvement if we see a 2H turnaround.