Oppenheimer analyst Scott Schneeberger raised the firm’s price target on XPO, Inc to $130 from $100 and keeps an Outperform rating on the shares. The firm notes XPO delivered another strong performance in Q4 as adjusted EBITDA of $264M exceeded expectations by 8%. Oppenheimer views XPO’s 2024 expectation of mid-to-high single digit yield growth/low-single digit tonnage growth/150 bps-250 bps of adjusted operating ratio improvement achievable.
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