William Blair analyst Ryan Merkel has maintained their bullish stance on QXO stock, giving a Buy rating on October 29.
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Ryan Merkel has given his Buy rating due to a combination of factors, including QXO Inc’s ability to achieve solid organic sales growth despite a challenging market environment. The company has demonstrated resilience with its organic sales outperforming the market, which indicates effective management strategies in pricing and procurement.
Additionally, Merkel notes that while the roofing market is currently soft, this presents potential buying opportunities for long-term investors. The company’s strategic initiatives, such as major M&A deals and self-help margin improvements, serve as key catalysts that could drive future growth and enhance shareholder value. Despite lowering fourth-quarter estimates due to market weakness, the overall outlook remains positive, supporting the Buy recommendation.