Wells Fargo Would Buy the XPO Logistics (XPO) Dip
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Wells Fargo analyst Allison Poliniak-Cusic reiterated an Overweight rating and $158.00 price target on XPO Logistics (NYSE: XPO) on the belief that there are more efficiencies on the Horizon.
The analyst stated "We believe that investors should be buying shares and that the outlook continues to be favorable for XPO from an operating perspective, with increased efficiencies occurring in LTL, Brokerage, and Logistics. We continue to lean on our fundamental analysis and secular tailwinds for its verticals. Q4 20's EPS print of$1.19 vs. our $0.74 estimate was very strong (sales ~8% better than expected and OR70 bp better than expected), and we liked the focus on technology. Given the company is moving to cash EPS reporting, we are revising our estimates for 2021E EPS to $5.45(from $3.65), and our 2022E EPS to $6.55 (from $5.05). We retain our Overweight rating as our longer-term thesis remains intact."
Shares of XPO Logistics closed at $117.60 yesterday.
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