ArcBest price target lowered to $176 from $180 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker lowered the firm’s price target on ArcBest to $176 from $180 and keeps an Overweight rating on the shares. Q2 will “likely be another quarter of tough results across the board” for the freight transportation group, says the firm, which adds that “it may not be as doom-and-gloom” as Q1 was and notes in its preview for the group that the firm expects a wider range of outcomes.