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Fly News Breaks for March 3, 2020
ARCB
Mar 3, 2020 | 07:47 EDT
Loop Capital analyst Jeffrey Kauffman upgraded ArcBest to Buy from Hold with a price target of $30, up from $26. The analyst notes that while he is lowering his expected FY20 EPS view by 25c to $2.00 on expected volume impact from the coronavirus, his upgrade is driven by cycle-low valuation for shares across a series of metrics. Kauffman adds that coronavirus impact on 2020 may still be larger than expected, but the company's Q1-to-date results appear to be better than he had modeled.
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