ArcBest price target lowered to $150 from $159 at Stifel

Stifel lowered the firm’s price target on ArcBest to $150 from $159 and keeps a Buy rating on the shares after the company reported “disappointing” Q1 earnings. While the firm likes the longer term opportunity at ArcBest and notes that the stock is priced at a material discount to non-union peers, it adds that “LTL seems to be a share donor at the moment, which is not ideal” given that the less-than-truckload division has the most operating leverage and the most current potential.