BofA upgrades ArcBest to 'neutral', raises PO
BofA Global Research lifts logistics firm ArcBest Corp ARCB.O to "neutral" from "underperform", raises price objective to $74 from $63, a premium of 10% to stock's last close
Brokerage says it's confident that co's Q2 tons/day to outperform, led by broad-based gains in its core less-than-truckload business with new and existing customers
"ARCB remains focused on optimizing its cost structure with a variety of labor planning tools, linehaul insourcing, and continued facility enhancement investments," - says BofA
According to BofA, while tariffs have influenced some shifts in sourcing from China, Mexico and Southeast Asia, ARCB has not observed any significant pull-forward activity in response
Six of thirteen brokerages rate the stock "buy" or higher, seven "hold"; their median PT is $75 - LSEG-compiled data
As of last close, stock had fallen 27.9% YTD
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