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Fly News Breaks for December 5, 2019
ODFL
Dec 5, 2019 | 05:42 EDT
Goldman Sachs analyst Jordan Alliger initiated coverage of Old Dominion with a Sell rating and $173 price target. The company generates around 60% of its revenues from the industrial end market, Alliger tells investors in a research note. Given the weakness seen in the industrial markets recently, the analyst favors truckers with a heavier consumer-focus. While Old Dominion improved its operating ratio to 79.8% in 2018 from 94.3% in 2009, the margin improvement is now stalling, adds the analyst.
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