William Blair lowered the firm’s estimates for QXO (QXO) following a soft roofing survey, cutting the firm’s Q4 EBITDA estimate to $152M, versus the Street at $203M, and its Q1 EBITDA estimate to $130M, versus the Street at $167M. However, the firm views QXO investors as more focused on the next transformational M&A deal and believes a sizable deal would boost investor confidence, so it encourages investors to “use bumps along the road to add to positions.” William Blair maintains an Outperform rating on QXO shares, which are down $1.28, or 6% to $19.77 in Wednesday afternoon trading.
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