BofA/Merrill analyst Ariel Rosa downgraded Old Dominion Freight Line to Underperform from Neutral with an unchanged price target of $166. Despite continued softness in a variety of economic indicators, shares of Old Dominion have traded near all-time highs in recent weeks, Rosa tells investors in a research note. The analyst sees limited further near-term upside and points out that the company's mid-quarter update showed less-than-truckload daily shipments down 4.0% year-over-year in August. This puts Old Dominion on track to miss the analyst's prior down 1.8% estimate for Q3 daily shipment volume.