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Fly News Breaks for May 23, 2018
ARCB, YRCW, FDX, ODFL
May 23, 2018 | 07:58 EDT
Argus analyst John Staszak initiated Old Dominion (ODFL) with a Buy rating and a price target of $175, saying the company is enjoying high customer retention and market share gains thanks to its "record of 99% on time deliveries". The analyst also cites the positive less-than-tuckload business fundamentals as freight shipping is shifting to LTL transport from the full-truckload segment due to tight capacity, forecasting Old Dominion to post high-teens revenue growth in FY18 - well above that of its competitors ArcBest (ARCB), FedEx Freight (FDX), and YRC Worldwide (YRCW).