BMO Capital analyst Fadi Chamoun raised the firm’s price target on Old Dominion (ODFL) to $230 from $215 and keeps an Outperform rating on the shares as part of a broader research note on Transportation names. Leading demand indicators, Q1 feedback from transportation and industrial companies that have reported results, and volume/weight per shipment trends within the LTL sector all point to improving demand conditions, and the firm has raised its estimates and target prices across the group, the analyst tells investors in a research note.
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