Stifel analyst J. Bruce Chan upgraded XPO, Inc (XPO) to Buy from Hold with an unchanged price target of $147. With the less-than-truckload group de-rating on discussion of Amazon disruption, there is an opportunity for investors to get involved in the group again, the analyst tells investors in a research note. The Amazon news “is much ado about nothing and happens every few years,” the analyst tells investors in a research note. Stifel does not see Amazon as a meaningful competitor to legacy LTL providers. In addition, TFI’s loss of density and broadly weak results are an “operational quandary and not representative of the LTL market,” says Stifel. The firm believes secular LTL fundamentals are still strong and upgraded three names in the space.
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