Piper Jaffray maintain ‘Overweight’ rating on Old Dominion Freight Line, Inc

Piper Jaffray is out with a report on logistic company Old Dominion Freight Line, Inc ODFL and has reiterated an ‘Overweight’ rating with a price target of $47. The stock is currently trading at $39. The company recently reported 2Q10 EPS from operation of $0.58 compared to $0.29 reported in last quarter. The result was ahead of the expectation of Piper analysts, who were expecting it to be at $0.50 vs. consensus of $0.46. The analysts at Piper Jaffray are optimistic about the coming quarters and FY10 results. The growth in company market share and price movement on a lean network should increase its earnings potential.