Raymond James analyst Patrick Tyler Brown lowered the firm’s price target on XPO Logistics to $44 from $46 and keeps an Outperform rating on the shares following the spin-off of their brokerage business, which was completed on November 1. The separation simplifies the story at XPO as it is now effectively a pure-play LTL, driving multiple expansion in time, and the firm sees a positive risk/reward, the analyst tells investors in a research note.
Published first on TheFly
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Read More on XPO:
- XPO Logistics price target lowered to $38 from $45 at Oppenheimer
- XPO Logistics downgraded to Equal Weight from Overweight at Morgan Stanley
- XPO Logistics downgraded to Equal Weight from Overweight at Wells Fargo
- XPO Logistics downgraded to Hold from Buy at Jefferies
- XPO Logistics price target lowered to $45 from $50 at Cowen
