Wolfe starts QXO with Outperform, sees path to EBITDA doubling

Wolfe Research initiated coverage of QXO (QXO) with an Outperform rating and $44 price target QXO provides investors with “superior” organic EBITDA growth and a “unique” acquisition value creation opportunity as the company “disrupts” the building products distribution landscape, the analyst tells investors in a research note. The firm says that employing data and “tech-heavy” approaches, it sees a path toward QXO doubling organic EBITDA over the next five years. This should drive significant margin improvement and market share gains, contends Wolfe.