Morgan Stanley raised the firm’s price target on XPO Logistics to $65 from $45 and keeps an Equal Weight rating on the shares. XPO’s LTL market opportunity has driven the market to reset its multiple back to normal after the penalty box it was put in after Q4, the analyst tells investors in a research note. The earnings built out will likely take longer than the market hopes but XPO remains on the right path, the firm argues.
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