Citi lifts Old Dominion rating to 'buy'; shares rise

Old Dominion Freight Line

08/04/2025 13:51

** Shares of less-than-truckload carrier Old Dominion Freight Line ODFL.O rise 2.2% to $154.68 premarket

** Citi Research upgrades rating to 'buy' from 'neutral'

** Brokerage sees ODFL well positioned to grow market share, leverage its playbook to navigate the current macro environment

** But the brokerage cuts PT to $183 from $186, still a 21% upside to the stock's last close

** Cites "prolonged freight recession, delay in potential volume benefits from increased domestic manufacturing and cycle inflection"

** 7 brokerages rate ODFL "buy" or higher, 16 "hold" and 3 "sell" or lower; their median PT is $186 -data compiled by LSEG

** As of last close, stock had fallen 14.2% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))