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Fly News Breaks for January 16, 2020
XPO
Jan 16, 2020 | 13:59 EDT
Cowen analyst Jason Seidl raised his price target for XPO Logistics to $125 from $100 on further details around the company's strategic pivot after speaking with management. The analyst notes that the company is conducting a sell-side process for all four of its business units, while intending to maintain ownership of its North American LTL division. When all is said and done, assuming the company sells all four businesses, it would be a pure-play LTL business with little to no debt, he adds. Seidl believes that the sale process for the four units will be conducted concurrently, and if the books are not out yet, they will be in the next week. There are many strategic and financial buyers for each of the four units, he contends.