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Fly News Breaks for February 11, 2020
XPO
Feb 11, 2020 | 07:23 EDT
Citi analyst Christian Wetherbee raised his price target for XPO Logistics to $110 from $100 and keeps a Buy rating on the shares. The hiring of a new CFO, "solid" 2020 guidance and growing traction around the divestiture narrative all support an improved valuation, Wetherbee tells investors in a post-earnings research note. The analyst increased his target multiple to 9.5 times from nine, which he .notes still equates to a sizable discount to the trading multiples of XPO's asset-light peers. He keeps a Buy rating on the shares.
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