ArcBest price target lowered to $83 from $103 at Citi

Citi lowered the firm’s price target on ArcBest (ARCB) to $83 from $103 and keeps a Neutral rating on the shares. The company reported mid-quarter operating results reflective of a continued weak demand environment, the analyst tells investors in a research note. The firm cut estimates and sees ArcBest as “vulnerable to a deteriorating macro” environment.