Wells Fargo analyst Allison Poliniak-Cusic raised the firm’s price target on Old Dominion to $395 from $315 and keeps an Overweight rating on the shares. The company’s strong performance in the face of tonnage declines keeps the firm positive. December’s tonnage outperformed seasonality and pricing trends are constructive, Wells adds, noting that fuel and tonnage levels are a headwind in 2023, but pricing and execution are offsets.
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Published first on TheFly
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- Old Dominion boosts dividend 33.3% to 40c
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