BUZZ-XPO down after BofA cuts price target

Reuters03-28

** Shares of logistics firm XPO XPO.N down 4% at $108.77

** Brokerage BofA Global Research cuts price target to $131 from $150

** XPO's attempt to post accelerating yields in Q1 from Q4 suggests it is taking higher quality volumes (profitable small- to mid-sized business customers) — brokerage

** Lowered Q1 and FY2025 EPS estimate for XPO, given a flatter outlook for Europe vs prior growth forecast, along with the minor rate and margin shift — BofA

** BofA is bullish given improving margins, returns and cash flow into a freight rebound

** XPO announced a $750 million share buyback authorization on Thursday

** 23 of 26 brokerages rate the stock "buy" or higher, two "hold" and one "sell"; their median PT is $158, according to data compiled by LSEG

** XPO has fallen 13% YTD, as of last close

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com))

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