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QXO initiated with an Overweight at Morgan Stanley

Morgan Stanley analyst Christopher Snyder initiated coverage of QXO (QXO) with an Overweight rating and $35 price target QXO is an emerging building products distributor with plans to consolidate its way to $50B in revenue, the analyst tells investors in a research note. The firm says U.S. industrial distribution sector is a “prime roll-up candidate” while the company’s management has a track record of driving value.

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