BUZZ-Trucking firm XPO rises after Stifel upgrades to 'buy', lifts PT

Reuters05-24

** Shares of ground freight service company XPO up 1.5% at $107.00 after Stifel upgrades to "buy" from "hold"

** Brokerage lifts PT to $120 from $115, representing a ~14% upside to stock's last close

** Stock over-corrected during a weak earnings season, despite management's internal productivity efforts, says brokerage

** Notes solid execution in Q3 for company's less-than-truckload segment turnaround plan, owing to improvements in service, pricing, cost efficiency and network optimization over the past two years

** "This is a good entry point for XPO, which is well positioned to gain share when the market turns" - Stifel

** 18 brokerages rate the stock "buy" or higher, three "hold" and one "sell"; median PT is $138 - LSEG data

** Stock up 22% YTD

(Reporting by Aatreyee Dasgupta)

((Aatreyee.Dasgupta@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment