Fly News Breaks for August 5, 2019
Aug 5, 2019 | 08:01 EDT
Credit Suisse analyst Allison Landry raised her price target for XPO Logistics to $81 from $73 following "decent" results, particularly considering the less than cooperative backdrop. While the analyst notes that some investors are skeptical of the EBITDA and free cash flow raise, she points toward a number of positives such as strong LTL pricing/trajectory of margin improvement; a recent material customer win in the U.K.; a full pipeline of new biz wins; and a clearly defined set of revenue and cost initiatives that should support "solid profit growth" for the next few years. Landry reiterates an Outperform rating on the shares.
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