UPDATE: Benchmark Starts XPO Logistics (XPO) at Buy
- Nasdaq ends down as investors eye Black Friday sales, China infections
- Apple (AAPL) could see a $6B hole in FQ1 iPhone revenue due to Foxconn troubles - analyst
- Activision Blizzard (ATVI) slips on report FTC likely to oppose $69B Microsoft (MSFT) deal
- Manchester United (MANU) shares jump again on Saudi interest
- Bitcoin (BTC) price struggles to rebound as Binance launches $1 billion recovery fund
Benchmark analyst Chris Kuhn initiates coverage on XPO Logistics (NYSE: XPO) with a Buy rating and a price target of $103.00.
The analyst comments "We are initiating coverage of XPO Logistics (XPO) with a buy rating and $103 per share price target. After the spin-off of GXO Logistics (GXO-NR) we view the company as a more focused, pure-play transportation provider. Its core North American LTL business is the third largest non-union carrier which has seen over 1,000 basis points of OR improvement since 2015. It is the third largest truck broker in North America with a leading-edge digital platform. We see opportunity for yield increases and margin expansion but also see other ways for the company to enhance shareholder value. The stock has underperformed since the spin after LTL margins disappointed in 3Q21, and we see the potential for a re-rating."
Shares of XPO Logistics closed at $72.99 yesterday.
You May Also Be Interested In
- Container Corp. of India (CCRI:IN) PT Raised to INR848 at BofA Securities
- Bharat Electronics Ltd (BHE:IN) PT Raised to INR120 at BofA Securities
- SM Prime Holdings, Inc (SMPH:PM) (SPHXF) PT Lowered to PHP41 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!