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Fly News Breaks for October 29, 2019
XPO
Oct 29, 2019 | 06:50 EDT
Barclays analyst Brandon Oglenski raised his price target for XPO Logistics to $75 from $70 and keeps an Overweight rating on the shares following the company's Q3 results. Management's reduced revenue guidance to close out 2019 is understandable given challenges in most transport markets, Oglenski tells investors in a research note. The analyst thinks cost reductions could drive upside to his forecast, but he adds that his 2020 EBITDA outlook remains roughly 3% below consensus.
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