Analysts Just Turned Bullish on These 5 Stocks

2. Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Number of Hedge Fund Holders: 41

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) received an upgrade from Wells Fargo on Monday, June 27, 2022. The research firm upgraded the less-than-truckload (LTL) carrier from “Equal Weight” to “Overweight,” citing growth opportunities for the company within the market.

Wells Fargo analyst Allison Poliniak-Cusic said that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is boosting its presence in the LTL market. He also thinks that the company’s profitability will continue to improve. Poliniak-Cusic raised his price target for Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from $280 per share to $300 per share.

Investment management firm ClearBridge Investments mentioned Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its first-quarter 2021 investor letter published earlier this year. ClearBridge stated:

“We exited our position in Old Dominion Freight Lines (NASDAQ:ODFL), in the industrial sector. While our opinion of the freight carrier’s business quality is unchanged, we believe the stock’s current price reflects less potential than some of the new opportunities we have been evaluating.”