Old Dominion price target raised to $400 from $394 at Goldman Sachs

Goldman Sachs analyst Jordan Alliger raised the firm’s price target on Old Dominion to $400 from $394 and keeps a Neutral rating on the shares. The company’s Q4 results were about in line with expectations when adjusting for gains, and while the initial intake of redistributed Yellow freight was likely less meaningful than others, Old Dominion also reiterated broadly on the opportunity for further share gains over the near-to-medium term given that current competitor operating levels may be more constrained versus prior to Yellow’s exit, the analyst tells investors in a research note.