Deutsche Bank Upgrades Old Dominion Freight Line (ODFL) to Buy

December 16, 2013 7:32 AM EST Send to a Friend
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Price: $77.38 -0.83%

Rating Summary:
    9 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 23 | New: 27
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Deutsche Bank upgraded Old Dominion Freight Line (NASDAQ: ODFL) from Hold to Buy with a price target of $59.00 (from $49.00), saying the company is currently the best way to play the LTL sector and is poised to drive solid earnings growth as it continues to take market share in 2014.

"ODFL has been proven adept at juggling changing market conditions and has ample network capacity to take on new business at high incremental margins as the U.S. economy strengthens and/or a network consolidation event occurs," analyst Justin Yagerman states. "ODFL is a best-in-breed LTL operator that while trading at a premium multiple (18.2x our 2014 EPS estimate) has better earnings growth prospects, returns on invested capital, and improving free cash flow generation than its LTL peers, and frankly most of the asset-based transportation universe."

For an analyst ratings summary and ratings history on Old Dominion Freight Line click here. For more ratings news on Old Dominion Freight Line click here.

Shares of Old Dominion Freight Line closed at $50.87 yesterday.

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