Fly News Breaks for August 5, 2019
Aug 5, 2019 | 07:42 EDT
Raymond James analyst Patrick Tyler Brown raised his price target for XPO Logistics to $78 from $68 and reiterated an OUtperform rating. In a research note to investors, Brown says he is cognizant of the perceived "headline risk" associated with shares following two guidance cuts, but believes XPO's leverage to ecommerce, opportunity to grow LTL operating income absent a significant macro slowdown, cross-selling opportunities, robust sales pipeline, and technology investments will each contribute to further earnings per share and free cash flow per share growth.
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