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Fly News Breaks for August 3, 2018
XPO
Aug 3, 2018 | 07:07 EDT
KeyBanc analyst Todd Fowler reiterated an Overweight rating on XPO Logistics but lowered his price target to $115 from $125, reflecting a revised EBITDA estimate for 2019. In a research note to investors, Fowler says Q2 were largely as expected, but he is "incrementally encouraged" by forward commentary around organic opportunities in existing businesses and new offerings, as well as EBITDA growth. He continues to see a path to about $3B of EBITDA by 2022. He also raised his 2019 EBITDA estimate to $1.8B from $1.775B.
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