Keybanc Raises Price Target On Old Dominion Freight Line

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  • KeyBanc analyst Todd Fowleraised the price target on Old Dominion Freight Line Inc ODFL to $310 (implying an upside of 3.37%) from $300 and maintained an Overweight rating.
  • Fowler supports this raise with the company's share and margins potential.
  • Over a week ago, Fowler had raised the price target to $300 from $280 and maintained the Overweight rating on the shares.
  • The analyst sees Old Dominion as one of the highest quality names in his coverage and sees near-term benefits from a favorable tonnage and yield environment. 
  • The analyst further adds, service levels and available capacity support share gains, while improved density, pricing initiatives, and cost leverage support margin expansion. Additionally, he sees ample free cash supporting network investment and return of capital.
  • Price Action: ODFL shares closed higher by 2.39% at $299.89 on Thursday.
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