Barclays raised the firm’s price target on XPO, Inc to $100 from $95 and keeps an Overweight rating on the shares ahead of the Q4 report. The analyst says transportation equities should benefit as freight markets exit recession in early 2024. The firm expects rail and truck pricing gains to build throughout the year, leading to generally above-consensus earnings estimates across the group. Its relative preference remains in the rails as it senses investor sentiment remains subdued.
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