BofA downgraded ArcBest to Underperform from Neutral with a price target of $91, down from $101. The firm expects rising margin pressure from a lower share of core LTL freight within its portfolio and views the Teamsters contract expiry in July as an uncertainty given the current "antagonistic" labor backdrop, the analyst tells investors in a research note.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ARCB: