Old Dominion price target raised to $209 from $190 at Raymond James

Raymond James raised the firm’s price target on Old Dominion to $209 from $190 and keeps an Outperform rating on the shares. The firm sees durability in its LTL pricing thesis and thinks Old Dominion’s network and industry-leading door ownership position carries more long-term share advantages than the market appreciates, the analyst tells investors in a research note. The market also continues to fundamentally re-rate the LTL industry higher, particularly as the Street comes to understand the durability of pricing and the moat of LTL networks, the firm says.