Oppenheimer raised the firm’s price target on XPO, Inc to $140 from $130 and keeps an Outperform rating on the shares ahead of Q1 results. The firm views XPO as trending well relative to its Q1 2024 tonnage guidance through the first couple months of the year, and anticipates it delivering year-over-year yield growth consistent with the 10.3% year-over-year it delivered in Q4 2023. Oppenheimer expects this could lead to over 300bps of year-over-year adjusted operating ratio improvement.
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