XPO price target raised to $233 from $200 at Raymond James

Raymond James raised the firm’s price target on XPO (XPO) to $233 from $200 and keeps an Outperform rating on the shares. XPO continues to benefit from idiosyncratic LTL pricing strength and operational improvements, with its capacity expansion and LTL 2.0 initiatives expected to drive efficiency gains, narrow the OR gap versus peers, and position the company for both margin improvement and upside leverage when freight markets eventually tighten, the analyst tells investors in a research note.