JPMorgan raised the firm’s price target on XPO, Inc (XPO) to $160 from $146 and keeps an Overweight rating on the shares. The firm says that on the back of the election results and the view that the freight recession is coming to a close, less-than-truckload stocks “have rapidly re-rated once again.” Sentiment on the sub-sector remains positive and JPMorgan views less-than-truckload as the most favored group in transports with positioning continuing to shift away from U.S. rails, the analyst tells investors in a research note. It adjusted models to better reflect the operating performance in November.
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Read More on XPO:
- XPO Reports Decrease in North American LTL Tonnage
- XPO, Inc : November TL tonnage per day decreased 4.0% YoY
- XPO, Inc price target raised to $170 from $150 at Barclays
- XPO, Inc price target raised to $179 from $155 at Citi
- XPO, Inc price target raised to $162 from $140 at BMO Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
