UPDATE: Goldman Sachs Upgrades XPO Logistics (XPO) to Buy
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(Updated - August 3, 2021 4:22 AM EDT)
Goldman Sachs analyst Jordan Alliger upgraded XPO Logistics (NYSE: XPO) from Neutral to Buy with a price target of $103.00.
The analyst comments "...XPO is primarily driven by LTL trucking (about 79% of our estimated 2021 EBITDA forecast) but it also services other Transportation subsectors including truck brokerage, and final mile. As per management’s December 2020 presentation, LTL and truck brokerage accounted for about 90% of 2020 adjusted EBITDA. Big picture, we think the market will likely look to LTL at least initially as the prime valuation driver to the shares."
Shares of XPO Logistics closed at $80.69 yesterday.
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