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.
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Read More on ARCB:
- ArcBest Reports Q3 2024 Financial Results
- Morning Movers: Apple dips, Amazon gains after earnings
- ArcBest reports Q3 adjusted EPS $1.64, consensus $1.83
- Arcbest (ARCB) Q3 Earnings Cheat Sheet
- ArcBest price target lowered to $119 from $131 at Stifel
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