XPO price target raised to $209 from $160 at BofA

BofA analyst Ken Hoexter raised the firm’s price target on XPO (XPO) to $209 from $160 and keeps a Buy rating on the shares following Q4 results. The firm told investors that the outperformance reflects XPO’s above-seasonal January results, and continued idiosyncratic momentum as it works to narrow its margin gap between it and best-in-class peer Old Dominion (ODFL). BofA added that XPO is positioned to continue to the gap narrowing led by idiosyncratic price, mix, and productivity momentum.