QXO initiated with an Outperform at RBC Capital

RBC Capital analyst Mike Dahl initiated coverage of QXO (QXO) with an Outperform rating and $33 price target The firm says the company’s mandate to consolidate the building products distribution industry “leaves it unbound and unconstrained by conventional norms faced by competitors.” With a healthy capital structure, attractive cost of capital and intention to move fast, acquisitions will be a key catalyst for the shares, the analyst tells investors in a research note.