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From Downgrade To Buy: XPO Stock Back In Favor As Analyst Recognizes Turnaround Progress

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Stifel analyst J. Bruce Chan upgraded XPO, Inc. (NYSE:XPO) from Hold to Buy and increased the price target from $115 to $120.

The analyst says that he was too early in downgrading the stock earlier and now sees that the stock has over-corrected, especially led by internal productivity management efforts. 

Earlier this month, the company reported strong first-quarter FY24 results, with revenue up 5.8% Y/Y and operating income more than doubled.

The analyst says the drivers were solid execution on its LTL 2.0 …

Full story available on Benzinga.com

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