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Fly News Breaks for May 6, 2019
ARCB
May 6, 2019 | 09:43 EDT
Loop Capital analyst Jeffrey Kauffman lowered his price target on ArcBest to $34 and kept his Hold rating after its "disappointing" Q1 results that were driven by slower freight volume as well as the company's increased investment spending. The analyst adds that while the "less than truckload shipping", or LTL, environment remains "healthy", ArcBest management has also discussed its expected retreat in pricing toward the "normalized" levels during 2019, even though it did not see any "undue pressure on rates."
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