Jefferies raised the firm’s price target on XPO (XPO) to $275 from $250 and keeps a Buy rating on the shares. Less-than-truckload equities have re-rated sharply since the fall, but despite the rally the stocks are not yet pricing a full freight recovery, says the analyst, who sees the next leg higher hinged on earnings growth, not higher multiples.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XPO:
- XPO price target raised to $232 from $206 at Stifel
- XPO price target lowered to $233 from $238 at BofA
- XPO: Margin Expansion, Freight Demand Tailwinds, and Structural Cost Actions Support Buy Rating Despite Modest Estimate Cuts
- XPO price target raised to $206 from $201 at JPMorgan
- XPO price target raised to $207 from $205 at Citi