KeyBanc Bumps Up Old Dominion Price Target By 7%

November 30, 2021 11:17 AM | 1 min read |

KeyBanc analyst Todd Fowler raised Old Dominion Freight Line Inc's ODFL price target to $375 (an upside of 5%) from $350 and maintained an Overweight rating on the shares.
The analyst anticipates favorable near-term tonnage given a step-up in the two-year stack in October and positive macro indicators; comparisons become more challenging in late Q1 2022, with terminal expansion likely for the first time in a decade.
Fowler believes pricing momentum is healthy, as evidenced by recent general rate increases, likely offsetting cost inflation.
Recently, UBS downgraded Old Dominion to Neutral from Buy and raised the price target to $365 from $288.
Price Action: ODFL shares are trading lower by 0.13% at $356.76 on the last check Tuesday.