UPDATE: Benchmark Starts XPO Logistics (XPO) at Buy

(Updated - December 22, 2021 7:09 AM EST)

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."

For an analyst ratings summary and ratings history on XPO Logistics click here. For more ratings news on XPO Logistics click here.

Shares of XPO Logistics closed at $72.99 yesterday.

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