ArcBest price target raised to $153 from $136 at Stifel

Stifel analyst J. Bruce Chan raised the firm’s price target on ArcBest to $153 from $136 and keeps a Buy rating on the shares. The past few years have been a “whirlwind” for the transportation and logistics industry, but Stifel believes 2024 will be a slow transition back to normalcy and will mark the conclusion of an extreme cycle in the industry’s history, the analyst tells investors. However, there are still variables and tail risks that could result in unexpected outcomes in the upcoming year, the firm adds.