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XPO

XPO Logistics

$91.53

8.61 (10.38%)

09:54
01/16/20
01/16
09:54
01/16/20
09:54

XPO Logistics rises 15.0%

XPO Logistics is up 15.0%, or $12.40 to $95.22.

  • 11

    Feb

XPO XPO Logistics
$91.53

8.61 (10.38%)

01/16/20
JEFF
01/16/20
NO CHANGE
Target $112
JEFF
Buy
XPO strategic review could unlock up to $60 of share value, says Jefferies
XPO Logistics said last night it will explore strategic alternatives, including the possible sale or spin-off of a number of businesses, as the shares continue to trade below their sum-of-the-parts fair value, Jefferies analyst David Kerstens tells investors in a research note. The analyst thinks the businesses under review represent greater than 40% of revenue, including European transport and North American freight brokerage. The strategic review could unlock additional value in the range of $30-$60 per share, according to Kerstens. The analyst increased his price target for XPO Logistics to $112 from $98 and keeps a Buy rating on the shares. The stock in premarket trading is up 19%, or $15.74, to $98.56.
01/16/20
SBSH
01/16/20
NO CHANGE
Target $100
SBSH
Buy
XPO potential breakup has value, but process just started, says Citi
Citi analyst Christian Wetherbee sees value in the potential breakup of XPO Logistics, but he notes the process announced last night in a press release has just started. There is "sizeable" potential value from divestitures, particularly assuming control premiums, but the announcement coming before any discussions with potential buyers have been had is surprising, Wetherbee tells investors in a research note. The early stage nature of the announcement likely means a "healthy discount" to the breakup value will persist until incremental information on the process is made available, adds the analyst. However, Wetherbee expects shares to be up materially on the news, saying even a 25%-50% probability of success could provide a 20%-40% boost to shares. He keeps a Buy rating on XPO Logistics with a $100 price target.
01/16/20
MSCO
01/16/20
NO CHANGE
Target $81
MSCO
Equal Weight
Morgan Stanley says strategic logic for XPO break-up hard to understand
Morgan Stanley analyst Ravi Shanker said the mathematical logic for XPO Logistics exploring strategic alternatives "seems clear," but he believes the "strategic logic is a bit harder to understand" given the wide range of outcomes, potential that XPO could be stuck with businesses that the market may view to be "damaged" or unsellable, and a lack of clarity on the dis-synergies of scale that might exist. If XPO manages to divest all its non-core businesses, it could end up being the industry's second-best less-than-truckload shipper with an excellent balance sheet, said Shanker. However, he asks, "is a +30% base case upside enough for a potential outcome that breaks up the company and ends XPO as we know it?" He keeps an Equal Weight rating and $81 price target on XPO shares, which are up $16.00, or 19.3%, to $98.80 in pre-market trading.
01/16/20
LOOP
01/16/20
NO CHANGE
Target $80
LOOP
Hold
XPO Logistics' strategic actions may not drive valuation, says Loop Capital
Loop Capital analyst Jeffrey Kauffman keeps his Hold rating and $80 price target on XPO Logistics in spite of its near-20% gains in the pre-market above $95 per share following its confirmation of a strategic review last night. The analyst notes that investors are considering the stock trading at higher multiples as the company considers selling or spinning off divisions, but he "struggles" to see upside from current levels without the "meaningful change" in XPO Logistics' EBITDA and given its higher debt levels.

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