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Fly News Breaks for July 5, 2017
XPO
Jul 5, 2017 | 07:26 EDT
After spending time with management, Citi analyst Christian Wetherbee believes XPO Logistics is likely to make a large acquisition in the first half of 2018. The company has a solid plan that should deliver double digit EBITDA growth and strong free cash flow over the next few years, which should drive shares higher, Wetherbee tells investors in a research note. With the plan already in place, the analyst believes management now wants to put time into creating incremental value in the $15-$20 per share range. Wetherbee reiterates a Buy rating on XPO with a $75 price target.