Deutsche Bank Downgrades Old Dominion Freight Line to Hold, Lowers Price Target to $386
Portfolio Pulse from Benzinga Newsdesk
Deutsche Bank analyst Amit Mehrotra has downgraded Old Dominion Freight Line (ODFL) from Buy to Hold and reduced the price target from $475 to $386.
November 27, 2023 | 11:22 am
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NEGATIVE IMPACT
Old Dominion Freight Line's stock rating has been downgraded by Deutsche Bank from Buy to Hold, with a significant reduction in price target from $475 to $386.
The downgrade from Buy to Hold by a major bank like Deutsche Bank can lead to a negative perception among investors, potentially causing a short-term decline in ODFL's stock price. The substantial decrease in the price target further suggests a lowered expectation of the company's future performance, which may also contribute to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100