NEW YORK, February 4 (FinanceEnquiry.com) - Analysts at Deutsche Bank Securities reiterate their Buy rating on the shares of Old Dominion (NASDAQ: ODFL). The 12-months target price set to $51.
 
In a research note published yesterday, the analysts mention that Old Dominion Freight reported Q4 EPS of $0.69 exceeding the estimate and consensus of $0.60 and $0.58 per share, respectively.  Old Dominion generated solid operating leverage, as tonnage expanded about 10% y/y and yields rose 10.7%. Moreover, ODFL gained from lower insurance and claims expenses (+$0.03 per share), and a $0.05 per share tailwind from lower tax rate (34.2% in Q4 against the 38.8% estimate), the analysts add. The analysts maintain their buy rating based on solid earnings growth in accelerating tonnage trends, solid pricing environment and productivity tailwinds.