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XPO Logistics (XPO) Adds to Early Gains as Shares Bounce from Short Hit
December 14, 2018 10:54 AM ESTXPO Logistics (NYSE: XPO) adds to early gains as shares recover from yesterday's short report. Shares are up 10.4%.
... MoreNo 'Smoking Gun' in XPO Logistics (XPO) Short Report - Deutsche Bank
December 14, 2018 8:42 AM ESTDeutsche Bank analyst Amit Mehrotra offered more thoughts on yesterday's short report on XPO Logistics (NYSE: XPO). The firm reiterated a Buy rating and price target of $108. In addition to no smoking gun, they have found a number of highly misleading statements, and inaccuracies related to basic calculations.
The firm's takeaways:
SLIDE 8: Total enterprise value calculation is overstated by $2B. It appears the report is double counting secured debt of $2.1B...implying EV under its own definition is $15.1B vs. $17.2B as stated in the presentation. This error translates to... More
