ArcBest price target lowered to $170 from $175 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker lowered the firm’s price target on ArcBest (ARCB) to $170 from $175 and keeps an Overweight rating on the shares. Q3 was “a clear miss vs. lowered expectations” and Q4 color points to downside to consensus, like peers, the analyst tells investors. The next one to two quarters will determine whether ArcBest is “either the best or hardest mean reversion story in LTLs,” the analyst tells investors in a post-earnings note.