JPMorgan raised the firm’s price target on Old Dominion (ODFL) to $205 from $186 and keeps a Neutral rating on the shares. The firm says that on the back of the election results and the view that the freight recession is coming to a close, less-than-truckload stocks “have rapidly re-rated once again.” Sentiment on the sub-sector remains positive and JPMorgan views less-than-truckload as the most favored group in transports with positioning continuing to shift away from U.S. rails, the analyst tells investors in a research note. It adjusted models to better reflect the operating performance in November.
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Read More on ODFL:
- QQQ ETF Update, 12/4/2024
- Old Dominion reports November Revenue per day decreased 8.2% vs. last year
- Old Dominion Freight Focuses on Yield Amid Revenue Drop
- SPY ETF Update, 12/2/2024
- QQQ ETF Update, 11/26/2024
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
