Citi opens ‘positive catalyst watch’ on XPO into earnings

Citi opened a “90 day positive catalyst watch” on XPO, Inc and keeps a Buy rating on the shares with a $100 price target. The firm expects the company’s Q4 results to come in above expectations and it sees further estimate upside into 2024. XPO is likely to provide an incremental update on its operating ratio progress in 2024 with Q4 earnings and given the backdrop of strong less than truckload pricing fundamentals coupled with new and focused operational leadership, the shares are likely to respond favorably, the analyst tells investors in a research note.