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Fly News Breaks for November 2, 2018
XPO
Nov 2, 2018 | 07:17 EDT
Stifel analyst J. Bruce Chan upgraded XPO Logistics to Buy from Hold, citing his view that the company has a lot of secular share growth opportunity due to its e-commerce exposure and its capacity access in a structurally tight environment. With multiples having rationalized, the focus can shift to earnings growth in the existing business, in which he thinks "prospects look bright," Chan tells investors. However, he lowered his price target on XPO shares to $108 from $126.
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