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Citigroup Maintains Buy on ArcBest, Lowers Price Target to $170
Citigroup analyst Ariel Rosa maintains ArcBest (NASDAQ:ARCB) with a Buy and lowers the price target from $173 to $170.
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Truist Securities Maintains Buy on ArcBest, Lowers Price Target to $160
Truist Securities analyst Lucas Servera maintains ArcBest (NASDAQ:ARCB) with a Buy and lowers the price target from $165 to $160.
Shares of logistics and freight-related companies are trading lower after C.H. Robinson announced it will acquire RXO at an implied value of $5.8 billion, which may lead to more competition and lower margins for freight operators. Also, high diesel prices continue to weigh on the sector with the Trump administration slow to set policy to address the U.S. distillates shortage.