Old Dominion price target lowered to $175 from $188 at Stifel

Stifel lowered the firm’s price target on Old Dominion (ODFL) to $175 from $188 and keeps a Buy rating on the shares. The quarter’s results were “encouraging” and highlight Old Dominion’s operating quality in a quarter peppered with weather and economic volatility, but management cautioned that the environment remains highly uncertain, as reflected by a notch down in capex this year. The firm thinks uncertainty will continue to be reflected in updated numbers across the group, but adds that “in a flight to quality, Old Dominion is top dog.”