• Morgan Stanley upgraded NASDAQ:ODFL from Equal Weight to Overweight, indicating a positive outlook for the stock.
• Despite the upgrade, Old Dominion reported a decline in its LTL unit performance for November 2025, with significant drops in LTL tons and shipments per day.
• The company's LTL revenue per hundredweight showed an increase, suggesting pricing power amidst reduced shipment volumes.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a prominent player in the less-than-truckload (LTL) shipping industry. The company specializes in transporting smaller freight loads that do not require a full truck, making it a vital part of the logistics and transportation sector. Old Dominion competes with other major LTL carriers like FedEx Freight and XPO Logistics.

On December 8, 2025, Morgan Stanley upgraded ODFL's stock from Equal Weight to Overweight. This upgrade suggests that Morgan Stanley sees potential for the stock to outperform the market. At the time of the announcement, ODFL's stock was priced at $155.15, reflecting a 1.06% increase or $1.64. The stock has shown volatility, with a daily range between $153.03 and $156.73.

Despite the upgrade, Old Dominion reported a decline in its LTL unit performance for November 2025. The company's revenue per day decreased by 4.4% compared to the previous year. This was mainly due to a 10% reduction in LTL tons per day, a 9.4% drop in LTL shipments per day, and a 0.6% decrease in weight per shipment. These declines indicate challenges in the company's operational efficiency.

However, there is a silver lining. The LTL revenue per hundredweight increased by 5.9% quarter to date, and by 5.2% when excluding fuel surcharges. This increase in revenue per hundredweight helped to partially offset the overall revenue decline. It suggests that Old Dominion is managing to maintain pricing power, even amid reduced shipment volumes.

ODFL's market capitalization stands at approximately $32.44 billion, with a trading volume of 2,833,579 shares. Over the past year, the stock has reached a high of $209.61 and a low of $126.01. This range indicates significant fluctuations, reflecting the dynamic nature of the transportation industry and investor sentiment.