Oppenheimer analyst Scott Schneeberger raised the firm’s price target on QXO (QXO) to $32 from $30 and keeps an Outperform rating on the shares. The firm is incrementally positive on QXO since it announced that it is acquiring TopBuild for $17B. Oppenheimer views the pending addition of TopBuild as accretive, adding a premium asset with an industry-leading margin that accelerates QXO’s platform/affording the company opportunity to leverage customer value chains/vendor relationships.
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