Truist raised the firm's price target on ArcBest to $145 from $95 and keeps a Buy rating on the shares after the company's Q1 earnings beat and constructive forward commentary. While Asset-Based margins remained pressured by inflationary costs, the more important takeaway was the continued stabilization in Asset-Light profitability, improving April tonnage/pricing trends, and the management's more constructive tone around a potential freight upcycle, the analyst tells investors in a research note.
