UPDATE: XPO Logistics (XPO) PT Raised to $112 at Jefferies; Review Could Unlock $30-$60/Share
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(Updated - January 16, 2020 9:00 AM EST)
(updated to add analyst comments)
Jefferies analyst David Kerstens raised the price target on XPO Logistics (NYSE: XPO) to $112.00 (from $98.00) while maintaining a Buy rating after the company announced it is exploring strategic alternatives.
The analyst commented, "XPO will explore strategic alternatives, including the possible sale or spin-off of a number of businesses, as XPO shares continue to trade below its SOTP fair value. We think the businesses under review represent >40% of revenue, including European transport and North American freight brokerage, and estimate the strategic review could unlock additional value in the range of $30-$60 per share. We have increased our PT to $112 based on a SOTP-analysis."
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