ArcBest price target lowered to $108 from $119 at TD Cowen

TD Cowen analyst Jason Seidl lowered the firm’s price target on ArcBest to $108 from $119 and keeps an Outperform rating on the shares. The firm said the updated their model and noted a 26% decline in asset-light in May came in below our forecast and decelerated from April and adjusted our EPS estimates accordingly