UPDATE: Goldman Sachs Downgrades Old Dominion Freight Line (ODFL) to Neutral
- Dow, S&P 500 end with gains up after bumpy week, but Nike drags
- Over $100 Billion Wiped Off: Bitcoin (BTC) Price Falls As China's Central Bank Vows to Ban Cryptocurrency Trading
- Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
- Oil hits highest in almost 3 years as supply tightens
- Here's Why Meredith (MDP) Stock Price Soared 18% in After Hours
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - August 3, 2021 4:21 AM EDT)
Goldman Sachs analyst Jordan Alliger downgraded Old Dominion Freight Line (NASDAQ: ODFL) from Buy to Neutral with a price target of $281.00.
The analyst comments "We downgrade ODFL to Neutral from Buy following solid 20% share price performance since March 9 and the shares approaching our price target. When we upgraded ODFL the LTL volume recovery was still in earlier stages, and with volumes up sharply in the 2Q (28% YOY) and ODFLs operating ratio at 72.3% (new quarterly best), we just think that the current valuation reflects a meaningful amount of the early cycle upside."
Shares of Old Dominion Freight Line closed at $269.15 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Electrolux Professional AB (EPROB:SS) PT Raised to SEK59 at Morgan Stanley
- Jubilant Foodworks Ltd (JUBI:IN) PT Raised to INR4,350 at JPMorgan
- Alstom SA (ALO:FP) (ALSMY) PT Lowered to EUR47 at UBS
Create E-mail Alert Related CategoriesAnalyst Comments, Downgrades
Related EntitiesGoldman Sachs
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!