BofA analyst Ken Hoexter raised the firm’s price target on Old Dominion to $331 from $326 and keeps a Neutral rating on the shares. The firm lowered its Q2 EPS estimate 3% to $2.65, which it notes is below the Street’s $2.70 consensus, given a lowered operating margin target on negative tonnage. The firm also lowered it 2023 and 2024 EPS estimates 4% and 2%, respectively, but sees the market moving closer to the trough of the freight cycle.
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Published first on TheFly
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