BMO Capital raised the firm’s price target on XPO (XPO) to $230 from $205 and keeps an Outperform rating on the shares as part of a broader research note on the Transportation industry. The powerful transportation rally since late November 2025 does not appear extended when assessed in the context of the full freight cycle, which peaked in 2022, the analyst tells investors in a research note. As long as the freight cycle continues to progress along a recovery trajectory, transportation equities offer further upside potential, BMO added.
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