Old Dominion initiated with a Buy at UBS » 06:0801/1901/19/21
UBS analyst Thomas…
UBS analyst Thomas Wadewitz initiated coverage of Old Dominion with a Buy rating and $239 price target as part of a broader research note on U.S. LTL trucking. The analyst expects the rebound in industrial activity to support LTL tonnage volume growth of over 5% in 2021, which in combination with 4%-5% pricing should translate to strong margin expansion and growth. Wadewitz adds that Old Dominion's industry leading margin, strong growth, and resilient earnings in prior downturns support strong valuation on the stock.
|Over a week ago|
Old Dominion upgraded to Hold on signs of strong LTL market at Stifel » 07:0101/1401/14/21
As previously reported,…
As previously reported, Stifel analyst David Ross upgraded Old Dominion to Hold from Sell with a price target of $194, up from $176. Speaking with several of Old Dominion's competitors leads him to believe that the Less-Than-Truckload, or LTL, carriers had a strong end to 2020 and start to 2021, which prompts Ross to raise his growth and margin estimates for Old Dominion, which he "never enjoyed having a Sell rating on" even though the stock did significantly underperform its peers during the period in which he did.
Old Dominion price target raised to $225 from $200 at Citi » 06:3601/1401/14/21
Citi analyst Christian…
Citi analyst Christian Wetherbee raised the firm's price target on Old Dominion to $225 from $200 and keeps a Neutral rating on the shares. Citi's January shipper survey highlights a tight truck market with the strongest rate outlook since 2018 and a very constructive demand backdrop, Wetherbee tells investors in a research note. With capacity still constrained it appears the truckload cycle is "maturing into full growth mode," says the analyst. Wetherbee, however, remains cautious on truckload and instead prefer stocks with exposure further down the cycle.
Old Dominion upgraded to Hold from Sell at Stifel » 05:1501/1401/14/21
Stifel analyst David Ross…
Stifel analyst David Ross upgraded Old Dominion Freight Line to Hold from Sell with a $194 price target.
Old Dominion upgraded to Neutral from Sell at Goldman Sachs » 05:0601/1401/14/21
Goldman Sachs analyst…
Goldman Sachs analyst Jordan Alliger upgraded Old Dominion to Neutral from Sell with a price target of $214, up from $187. The "strong recovery" in ISM manufacturing and new orders, plus the vaccine rollout which should help bolster confidence in economic recovery, indicates Old Dominion is likely to enter a stronger than forecast earnings phase, Alliger tells investors in a research note.
Old Dominion upgraded to Outperform from Peer Perform at Wolfe Research » 07:2101/0701/07/21
Wolfe Research analyst…
Wolfe Research analyst Scott Group upgraded Old Dominion to Outperform from Peer Perform with a $221 price target.
Brinker, LiveRamp and Vonage among 2021 best ideas at Stephens » 07:1501/0401/04/21
ODFL, MUSA, SBNY, LPRO, CNNE, UFS, VCEL, RAMP, ENSG, BLDR, FISV, LKQ, CTLT, DSGX, VG, USB, ZBRA, LAD, PXD, TSC, ABCB, EAT, PHR, WAL
The analyst team at…
The analyst team at Stephens introduced their Best Ideas list for 2021, which they said includes the stocks with the best fundamental investment characteristics as selected by individual analysts from their covered companies. The list features Old Dominion (ODFL), Murphy USA (MUSA), Signature Bank (SBNY), Open Lending (LPRO), Cannae Holdings (CNNE), Domtar (UFS), Vericel (VCEL), LiveRamp (RAMP), Ensign Group (ENSG), Builders FirstSource (BLDR), Fiserv (FISV), LKQ Corp. (LKQ), Catalent (CTLT), Descartes Systems (DSGX), Vonage (VG), U.S. Bancorp (USB), Zebra Technologies (ZBRA), Lithia Motors (LAD), Pioneer Natural (PXD), TriState Capital (TSC), Ameris Bancorp (ABCB), Brinker (EAT), Phreesia (PHR) and Western Alliance (WAL).
|Over a month ago|
Morgan Stanley upgrades ArcBest to Overweight, says trucking cycle far from over » 08:0812/1012/10/20
ARCB, ODFL, SAIA
As previously reported,…
As previously reported, Morgan Stanley analyst Ravi Shanker upgraded ArcBest (ARCB) to Overweight from Equal Weight with a price target of $55, up from $35. He remains bullish on trucking stocks as he believes the cycle is "far from" over, said Shanker, who argues that "concerns about the trucking cycle ending are vastly overstated." While Old Dominion (ODFL) is still his top less-than-truckload, or LTL, pick, he identifies ArcBest as his second choice LTL pick. He sees the valuation gap between ArcBest and Saia (SAIA) as "the biggest fundamental disconnect in the LTL space," Shanker added.
Evercore starts trucking coverage with preference for Old Dominion, Saia » 06:3712/0412/04/20
ODFL, SAIA, KNX, SNDR, WERN
As previously reported,…
As previously reported, Evercore ISI analyst Jonathan Chappell initiated coverage of the less-than-truckload, or LTL, and truckload, or TL, industries. He started Old Dominion (ODFL) with an Outperform rating and $235 price target, initiated Saia (SAIA) with an Outperform rating and $205 price target, started Knight-Swift (KNX) with an In Line rating and $42 price target, initiated Schneider National (SNDR) with an In Line rating and $21 price target and started Werner (WERN) with an In Line rating and $41 price target. While LTL stocks are trading at all-time-high multiples, a number of growth opportunities and the eventual recovery of the U.S. industrial economy provides a much longer cyclical runway for this segment, Chappell contends.
Old Dominion initiated with an Outperform at Evercore ISI » 06:1812/0412/04/20
Evercore ISI analyst…
Evercore ISI analyst Jonathan Chappell initiated coverage of Old Dominion with an Outperform rating and $235 price target.