Old Dominion Freight Line (ODFL) PT Raised to $267 at Cowen

Cowen analyst Jason Seidl raised the price target on Old Dominion Freight Line (NASDAQ: ODFL) to $267.00 (from $266.00) while maintaining a Market Perform rating.

The analyst commented, "ODFL beat expectations on the bottom line as tonnage turned negative in the third quarter; October trends call for -7% tonnage growth as lackluster demand appears to be better than investor expectations, given the market's reaction post print. ODFL remained confident in pricing in 2023 regardless of potential volume declines. We modestly adjust our price target to $267."

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