QXO price target lowered to $28 from $30 at Truist

Truist analyst Keith Hughes lowered the firm’s price target on QXO (QXO) to $28 from $30 and keeps a Buy rating on the shares. The firm is updating its models to reflect roofing volume weakness in recent months, stating that the lack of strong storm activity and weaker new construction will drive the downside, the analyst tells investors in a research note. Truist further cites its growing sense that winter months will see inventory reductions in the channel, hurting production, and expects weak pricing to also occur as the industry readjusts to proper levels to start the 2026 season.