Old Dominion price target raised to $190 from $185 at Jefferies

Jefferies raised the firm’s price target on Old Dominion (ODFL) to $190 from $185 and keeps a Hold rating on the shares. As the current freight recession approaches its third year, the firm is “increasingly positive” on the freight backdrop for 2025, the analyst tells investors. The firm is “particularly encouraged” by recent trends in the truckload market exiting 2024 with improving tender load-to-truck ratios, rising tender rejections, and firming spot rate, the analyst added.