Old Dominion price target lowered to $150 from $160 at Wells Fargo

Wells Fargo analyst Christian Wetherbee lowered the firm’s price target on Old Dominion (ODFL) to $150 from $160 and keeps an Underweight rating on the shares. Coming off the firm’s callback there were positives and negatives. The positive was solid ops/cost controls in Q1 and the negative was weaker April tonnage and a softer Q2 outlook. Pricing remains solid, but estimates are still falling and tariff risk looms, Wells adds.