XPO Logistics price target lowered to $42 from $70 at Jefferies

Jefferies analyst Stephanie Moore lowered the firm’s price target on XPO Logistics (XPO) to $42 from $70 and keeps a Buy rating on the shares after adjusting estimates following the spin of RXO Inc. (RXO) on November 1 and the release of historical pro forma financials in an 8-K filed on December 1. Moore, who is not assuming a sale of the European business at this time, said her Buy rating is based on a view that XPO will outperform peers in 2023 following underperformance at LTL in 2022.