ArcBest rises after Citi upgrades to 'buy'

** Shares of logistics firm ArcBest ARCB.O rise nearly 7.5% to $77.5 in premarket trading, after Citi upgrades to "buy" from "neutral", lifts PT to $89 from $79

** New PT represents a 23.4% upside on stock's last close

** Says co set an ambitious target for 2028 adjusted EPS in the range of $12 to $15, with a $13.50 midpoint, implying a 21% CAGR over FY24

** Brokerage sees ARCB's outlook as aggressive but feasible, particularly with a favorable turn in the freight cycle, as co has some of the highest operating leverage in transport sector

** Six of 13 brokerages rate the stock "buy" or higher and seven "hold"; their median PT is $84 - according to data compiled by LSEG

** As of last close, shares down about 23% YTD