Wells Fargo initiated coverage of Old Dominion with an Underweight rating and $175 price target. The analyst likes the solid less-than-trucking pricing fundamentals and the company’s leading position, but sees near-term earnings risk. Old Dominion’s model is weighted toward volume growth accelerating, which Wells does not expect in 2024, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ODFL:
- Old Dominion Freight Shares Q2 2024 Operating Metrics Update
- Old Dominion sees Q2 revenue per day up 5.6% from last year
- Old Dominion initiated with an Outperform at BMO Capital
- Early notable gainers among liquid option names on June 4th
- Old Dominion increases quarterly dividend 30% to 26c per share