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Fly News Breaks for November 1, 2018
XPO
Nov 1, 2018 | 08:03 EDT
XPO Logistics' Q3 EBITDA increased 16% after adjusting for a $15.6M write-down related to a customer bankruptcy, in line with consensus and growth in the first half of 2018, Jefferies analyst David Kerstens tells investors in a post-earnings research note. While more management changes raise questions about XPO's acquisition strategy, 16% organic EBTDA growth compares favorably with 5% for logistics peers, says the analyst. He keeps a Buy rating on the shares with a $145 price target.
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