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XPO

XPO Logistics

$89.09

-0.92 (-1.02%)

, HD

Home Depot

$189.60

1.47 (0.78%)

14:30
12/26/17
12/26
14:30
12/26/17
14:30

Home Depot deal to buy XPO Logistics may not make sense, says Morgan Stanley

Morgan Stanley analyst Simeon Gutman said he understands why a potential tie-up of Home Depot (HD) with XPO Logistics (XPO) may be speculated, as has been the case in recent press reports, though he also sees reasons such a hypothetical deal may not make sense. He notes that Home Depot is building out its own internal supply chain and purchasing a separate logistics operator "may be redundant," he tells investors. Home Depot "has an omni-channel backbone like no other retailer," so purchasing a logistics operator may be unnecessary, Gutman contends.

XPO

XPO Logistics

$89.09

-0.92 (-1.02%)

HD

Home Depot

$189.60

1.47 (0.78%)

  • 20

    Feb

XPO XPO Logistics
$89.09

-0.92 (-1.02%)

12/22/17
OPCO
12/22/17
NO CHANGE
OPCO
Home Depot unlikely to buy XPO Logistics, says Oppenheimer
Oppenheimer analyst Brian Nagel said he is "hard-pressed" to see Home Depot (HD) purchasing a transportation and logistic providers as large XPO Logistics (XPO). The firm's XPO analyst, Scott Schneeberger, thinks Home Home Depot might be interested in XPO's Last Mile Logistics business which is about 6% of total 2017 revenues.
12/22/17
DBAB
12/22/17
NO CHANGE
DBAB
Strategic rationale for Home Depot buying XPO 'very clear,' says Deutsche Bank
Deutsche Bank analyst Amit Mehrotra noted that Recode reported that Home Depot (HD) has held internal talks about a potential acquisition bid for XPO Logistics (XPO), which is also said to be possibly being considered by Amazon (AMZN) as a takeover target. The news highlights the strategic and scarcity value of XPO's assets, said Mehrotra, who believes the company has "by far" the biggest heavy goods last mile business in the country. From a valuation standpoint, the analyst said his $110 price target is conservative and does not include any assumption of corporate tax reform, which would drive his target to $130. He maintains a Buy rating on XPO, whose stock is up 14% to $90 per share heading into the close.
12/26/17
SBSH
12/26/17
NO CHANGE
Target $110
SBSH
Buy
Citi ups XPO target to $110, sees takeover value closer to $120
Citi analyst Christian Wetherbee raised his price target for XPO Logistics (XPO) to $110 from $75 after Recode reported Friday that Home Depot (HD) has contemplated an acquisition of the company, partially as a defensive move to prevent Amazon (AMZN) from doing the same. In a research note titled "Buyer or Seller, There are Lots of Ways to Win," Wetherbee argues that XPO CEO Brad Jacobs is likely to be willing to maximize shareholder value either as a buyer or seller if the opportunity was right. Friday's article likely adds a takeout premium to XPO shares, at least near-term, the analyst adds. His new price target reflects this dynamic along with a "strong fundamental story." The analyst, however, believes a takeout bid would need to be higher, closer to $120 per share, due to the "significant potential value" XPO can create as a standalone company. Wetherbee keeps a Buy rating on XPO shares, which closed Friday up 14%, or $11.32, to $90.01.
12/26/17
OPCO
12/26/17
NO CHANGE
OPCO
Outperform
XPO Logistics purchase by Home Depot not likely, says Oppenheimer
Oppenheimer analyst Brian Nagel notes that Recode reported recently that its sources indicate Home Depot (HD) may be considering a bid for XPO Logistics (XPO). However, the analyst says that his knowledge of Home Depot and the strategic thinking of management suggest that such a move is unlikely. Nagel is hard-pressed to see Home Depot purchasing a transportation and logistics firm the size and scope of XPO. Buying the entirety of XPO would propel the company into entirely different lines of business, he adds. The analyst reiterates an Outperform rating on Home Depot's shares.
HD Home Depot
$189.60

1.47 (0.78%)

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