Stifel raised the firm’s price target on Old Dominion to $434 from $416 and keeps a Buy rating on the shares. The past few years have been a “whirlwind” for the transportation and logistics industry, but Stifel believes 2024 will be a slow transition back to normalcy and will mark the conclusion of an extreme cycle in the industry’s history, the analyst tells investors. However, there are still variables and tail risks that could result in unexpected outcomes in the upcoming year, the firm adds.
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