TD Cowen cuts PT on ArcBest, flags weak trucking demand

ArcBest

01/10/2025 15:53

** TD Cowen cuts PT on logistics firm ArcBest Corp ARCB.O to $67 from $72, new PT representing a downside of 4.1% from the stock's last close

** Maintains rating at "hold"

** Shares of the company down nearly 2% at about $69 in morning trade

     ** Brokerage says deteriorating demand and below-seasonal trends in the truckload market are creating a challenging backdrop for carriers like ArcBest heading into peak season

** Notes dry van spot rates have dropped 17% since July and are now below break-even, with ongoing weakness making it harder for co to stay profitable

** Six of thirteen brokerages rate the stock "buy" or higher, seven "hold" ; their median PT is $81 - LSEG-compiled data

** Including session moves, shares down 26.4% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))