Baird lowered the firm’s price target on Old Dominion (ODFL) to $200 from $204 and keeps an Outperform rating on the shares. The firm said trends are not all bad. Pricing remains rational, the company is not losing share, and October volume represents the closest reconnection to seasonality starting a quarter through this downturn. Near-term estimates are now more appropriately set, and the shares still offer attractive earnings leverage in a recovery.
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Read More on ODFL:
- Old Dominion price target lowered to $160 from $170 at Wells Fargo
- Old Dominion price target lowered to $190 from $195 at Barclays
- Old Dominion price target lowered to $195 from $206 at BofA
- Old Dominion sees October revenue per day down from prior year
- Old Dominion reports Q3 EPS $1.43, consensus $1.42