ArcBest price target lowered to $95 from $120 at Jefferies

Jefferies lowered the firm’s price target on ArcBest (ARCB) to $95 from $120 and keeps a Buy rating on the shares. Macro uncertainties are impacting what has remained a soft industrial backdrop, says the analyst, who now expects less-than-truckload volumes to remain sub-seasonal through the next several months and lowered the firm’s Q2 and 2025 estimates among the LTL group 9% and 5%, respectively.