BofA analyst Ken Hoexter lowered the firm’s price target on ArcBest to $110 from $143 and keeps an Underperform rating on the shares after the company posted Q1 adjusted EPS of $1.34, down 15% year-year and below the firm’s and Street’s targets. The firm views ArcBest’s slow capacity growth targets, share declines, and unionized labor force as an overhang on its ability to flex through demand cycles and lowered its FY24 and FY25 EPS estimates by 17% and 20%, respectively.
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