QXO initiated with an Overweight at Stephens

Stephens analyst Trey Grooms initiated coverage of QXO (QXO) with an Overweight rating and $29 price target Following the acquisition of Beacon earlier this year, QXO is now the second largest distributor of roofing and complementary products in North America, notes the analyst, who believes shares do not fully reflect the successful execution of M&A and organic growth targets that it views as “achievable.”