XPO, Inc price target raised to $88 from $82 at Oppenheimer

Oppenheimer raised the firm’s price target on XPO, Inc to $88 from $82 and keeps an Outperform rating on the shares. The firm says it is drawn to XPO’s two-year-old strategic re-focus based largely on customer service, which has begun to bear initial fruit in recent quarters in the form of profitable share gains. The company’s made progress on key service metrics such as a significantly improved damage claim ratio, which Oppenheimer anticipates will perpetuate. Over time, the firm anticipates XPO’s adjusted operating ratio to improve hundreds of basis points via volume gains, pricing growth, operational cost efficiencies, and line haul in-sourcing.