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JP Morgan Maintains Overweight Rating for XPO: Here's What You Need To Know

Author: Benzinga Insights | March 11, 2024 01:00pm

JP Morgan has decided to maintain its Overweight rating of XPO (NYSE:XPO) and raise its price target from $122.00 to $144.00.

Shares of XPO are trading up 6.32% over the last 24 hours, at $130.17 per share.

A move to $144.00 would account for a 10.63% increase from the current share price.

About XPO

Following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022, XPO is moving closer to becoming a pure-play asset-based less-than-truckload carrier. On a pro forma basis for the November RXO spinoff, We estimate LTL shipping now makes up 60% of total revenue, with XPO's European truckload and LTL operations making up 40%. That said, XPO's LTL segment EBITDA mix is much higher than 60%. We believe XPO intends to divest its European trucking division once it finds the right buyer.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: XPO

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