Jefferies lowered the firm’s price target on ArcBest to $130 from $140 and keeps a Buy rating on the shares. The firm is updating estimates for the U.S. Transport & Logistics group heading into the Q3 reporting season for the group, stating that the underlying freight market remains soft with the recovery pushed to 2025.
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Read More on ARCB:
- ArcBest price target lowered to $125 from $133 at Goldman Sachs
- Wolfe Research sees ‘mixed bag’ across freight, no signs of broad recovery
- ArcBest downgraded to Peer Perform from Outperform at Wolfe Research
- ArcBest initiated with a Neutral at Citi
- ArcBest price target lowered to $123 from $130 at Stephens