QXO initiated with a Buy at Loop Capital

Loop Capital analyst Garik Shmois last night initiated coverage of QXO (QXO) with a Buy rating and $31 price target The acquisition of Beacon provided QXO with a “durable platform” in building products distribution and a “credible path” toward its ambition of becoming a $50B revenue company, the analyst tells investors in a research note. The firm believes can execute on a multi-year runway for consolidation across the broader building products industry.