XPO (XPO) PT Raised to $237 at Stifel

Stifel analyst J. Bruce Chan raised the price target on XPO (NYSE: XPO) to $237.00 (from $232.00) while maintaining a Buy rating.

The analyst comments "XPO delivered a strong start to the year, consistent with its idiosyncratic execution and margin optimization roadmap, in our view. For self-help margin potential, we continue to see XPO as the best opportunity in a muted demand environment, and in a volume recovery, as one of the biggest beneficiaries of leverage to density and share opportunity. XPO's 1Q26 adjusted EPS of $1.01 exceeded our estimate and Consensus of $0.88. Pricing accelerated throughout the quarter, productivity materially exceeded long-term targets, and mix continued to shift toward higher quality freight, leading margins comfortably-ahead of normal seasonality. Early-cycle demand signals are beginning to improve, particularly in industrial verticals, which we think positions XPO for a phase where self-help meets cyclical tailwinds. With ~30% excess capacity in the network and incremental tech-enabled efficiencies still in early innings, we see a setup where incremental margins could meaningfully exceed historical cycle norms as volumes recover."

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