Bank of America Securities analyst Ken Hoexter reiterated a Buy rating on XPO (XPO – Research Report) today and set a price target of $131.00.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Ken Hoexter has given his Buy rating due to a combination of factors that highlight XPO’s strong performance and potential for future growth. Despite a challenging market environment, XPO is expected to outperform its peers with better tonnage declines and improving revenue per shipment metrics. The company’s focus on high-quality revenue from profitable small- to mid-sized business customers is a key driver of this performance.
Additionally, XPO’s strategic initiatives, such as the recently authorized $750 million share buyback program, demonstrate a commitment to enhancing shareholder value. Even though there are some adjustments in earnings estimates due to lower expectations in European operations, the overall outlook remains positive. The company’s ability to improve margins and cash flow amidst a freight rebound supports the Buy rating, with a price objective of $131, reflecting confidence in XPO’s long-term growth prospects.
In another report released yesterday, Wells Fargo also maintained a Buy rating on the stock with a $130.00 price target.