Old Dominion Freight Line (ODFL) PT Lowered to $205 at Citi
Citi analyst Ariel Rosa lowered the price target on Old Dominion Freight Line (NASDAQ: ODFL) to $205.00 (from $207.00) while maintaining a Neutral rating.
The analyst comments "ODFL reported 4Q24 EPS of $1.23, beating our/cons. est. of $1.15/$1.16. Shares were up +6% at mid-day, as the quarter reflected OD’s continued strong execution, with beats vs. expectations on both Revenue and Op. Ratio. OD guided to 1Q rev. between $1.34-$1.38 billion depending on macro conditions. Management’s outlook for OR to be flat to +50bp seq. is in-line with historical trend after accounting for a +100bp step-up in 4Q24 insurance accrual expenses in 4Q. This compares to SAIA’s 1Q25 guide for a +30-50bp deterioration in OR vs. normal seasonality of a -50-75bp improvement. The 1Q outlooks from both OD and SAIA point to a cautious view on the rate of improvement in macro conditions, with LTL demand not accelerating sufficiently to offset normal seasonal trends. Maintain Neutral."