Stock Track | ArcBest Soars 5.03% Intraday on Multiple Analyst Price Target Hikes

Stock Track02-02 23:24

ArcBest's stock price surged 5.03% during intraday trading on Monday, reflecting strong investor optimism.

The significant upward movement follows a series of positive analyst actions, with several major financial institutions raising their price targets for the transportation and logistics company. Jefferies increased its target to $110 from $95 while maintaining a Buy rating, Wells Fargo raised its target to $85 from $74, and JP Morgan lifted its target to $81 from $76. Additionally, Citi raised its price target to $105 from $104.

These coordinated analyst upgrades suggest growing confidence in ArcBest's business prospects and valuation, driving increased buying interest in the company's shares during the trading session.

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