BUZZ-Citi downgrades Old Dominion to 'neutral', sees rising competition

Reuters
02/09
BUZZ-Citi downgrades Old <a href="https://laohu8.com/S/D">Dominion</a> to 'neutral', sees rising competition

** Citi cuts rating on less-than-truckload carrier Old Dominion Freight Line ODFL.O to "neutral" from "buy"

** Lifts PT to $216 from $196, implying a 6.7% upside to stock's last close

** Says intensifying less-than-truckload $(LTL)$ competition could undermine ODFL's premium pricing and market-share momentum

** Notes optimism in North American trucking market has jumped because of better macro signals and improving spot-rate trends; but trucking stocks seem overvalued with no improvement in earnings

** Citi also cuts rating on peers Knight-Swift Transportation KNX.N to "neutral" from "buy" and Werner Enterprises WERN.O to "sell" from "neutral"

** 9 of 26 brokerages rate ODFL "buy" or higher, 13 "hold" and four "sell" or lower; median PT is $195.50 - data compiled by LSEG

** In 2025, ODFL fell ~11.1%, KNX ~1.4% and WERN ~16.5%

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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