Deutsche Bank analyst Amit Mehrotra upgraded Old Dominion to Buy from Hold with a price target of $350, up from $301. The analyst lays out how the company’s earnings can double. The firm sees enough to underwrite an equity value of over $600 per share, versus $300 today, equating to double digit annual return from current levels. Importantly, forecasts do not extrapolate any COVID-related benefits to growth rates, the analyst tells investors in a research note.
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Published first on TheFly
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