XPO Logistics price target raised to $67 from $60 at BMO Capital

BMO Capital analyst Fadi Chamoun raised the firm’s price target on XPO Logistics (XPO) to $67 from $60 and keeps an Outperform rating on the shares. Q1 LTL trucking industry demand headwinds have continued as mid-quarter updates have been revealing low-single-digit to mid-teen tonnage declines, the analyst tells investors in a research note. The firm notes however that a bankruptcy of Yellow Corp (YELL) could partially, fully, or more than fully mitigate macro induced volume headwinds, depending on the extent of a restructuring, adding that a full liquidation or even partial downsizing would result in both immediate-term and longer-term pricing tailwinds owing to the company’s size.