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Fly News Breaks for October 30, 2019
XPO
Oct 30, 2019 | 07:30 EDT
Credit Suisse analyst Allison Landry raised her price target for XPO Logistics to $90 from $79 and maintained an Outperform rating, saying the company's tech initiatives helped support a Q3 beat, with better than forecast margins offsetting a weaker top line. While the company is not immune to cyclical pressures, its 10 revenue and cost initiatives that have the potential to generate $700M-$1B of incremental profit by 2022 are largely independent ofthe macro, with 6 of the levers being rooted in technology investments, Landry tells investors in a research note.
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