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Fly News Breaks for August 3, 2018
XPO
Aug 3, 2018 | 06:32 EDT
Deutsche Bank analyst Amit Mehrotra last night raised his price target for XPO Logistics to $142 from $133 and kept a Buy rating on the shares. The analyst says he came away from XPO's earnings conference call "incrementally more positive on several fronts." Management pointed to sustainability of recent acceleration in organic growth, and guided EBITDA to increase 15%-18% for the "foreseeable" future, Mehrotra tells investors in a research note. Further, management provided more details around revenue opportunity from XPO Direct, the analyst adds. He notes this represents a $1B organic revenue over the next four years with higher than average contribution margins. Mehrotra calls XPO his top overall pick.
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