** Shares of less-than-truckload carrier Old Dominion Freight Line ODFL.O up nearly 2% at about $198 in premarket trading

** Argus Research upgrades rating to "buy" from "hold", leaves PT unchanged at $220

** Says co is seeing early signs that shipping volumes may soon pick up in the industrial market, which makes up more than half of its customers

** Notes that despite the positives, ODFL remains pressured by weak industry volumes and rising competition from full-truckload carriers

** Argus Research says competition is intense, with co facing major players like FedEx and UPS, as well as numerous small owner-operators

** Nine of 26 brokerages rate the stock "buy" or higher, 13 "hold" and 4 "sell" or lower; their median PT is $203 - data compiled by LSEG

** As of last close, ODFL shares up 24% YTD

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))