BMO Capital analyst Fadi Chamoun lowered the firm’s price target on Old Dominion (ODFL) to $205 from $210 and keeps a Market Perform rating on the shares. The company’s Q3 results were slightly below forecast on an EBIT basis, though Old Dominion continues to be a best-in-class transport that is highly differentiated from an execution standpoint, the analyst tells investors in a research note. The company is well-positioned for an eventual upcycle, but visibility of this also remains limited, and due to negative de-leveraging from cyclical headwinds, the firm is cutting its FY24 EPS view by 7c to $5.41 and its FY25 view by 39c to $5.61, BMO added.
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Read More on ODFL:
- Old Dominion price target lowered to $196 from $203 at TD Cowen
- Old Dominion price target lowered to $200 from $204 at Baird
- Old Dominion price target lowered to $160 from $170 at Wells Fargo
- Old Dominion price target lowered to $190 from $195 at Barclays
- Old Dominion price target lowered to $195 from $206 at BofA
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