In a report released today, Scott Schneeberger from Oppenheimer reiterated a Buy rating on XPO Logistics (NYSE: XPO), with a price target of $119. The company’s shares closed yesterday at $105.46, close to its 52-week high of $109.06.
Schneeberger observed:
“A week prior to discussing its compelling story at the Oppenheimer Industrial Conference yesterday, XPO delivered strong 1Q18 results. It outperformed expectations on the top/bottom lines, while maintaining its trend of in-line adjusted EBITDA. XPO is managing to 2018 EBITDA guidance of $1.6B (+17% y/y) and reinvesting upside back into the business considering its many opportunities/strong conditions across its business lines. XPO won $972M (annual revenue) of new contracts in 1Q18, which followed $2.8B in 2017. Ramping on a lag to wins, anticipated continued conversion of XPO’s now $3.6B pipeline (up from $3.2B entering 2018) bodes well for a persistent elevated organic growth profile. Pairing XPO’s momentum with the potential for sizable, accretive acquisitions on the horizon, we reiterate our Outperform rating/$119 target.”
According to TipRanks.com, Schneeberger is a top 100 analyst with an average return of 14.0% and a 69.0% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.
Currently, the analyst consensus on XPO Logistics is Strong Buy and the average price target is $115.63, representing a 9.6% upside.
In a report issued on May 4, Cowen & Co. also maintained a Buy rating on the stock with a $112 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $109.06 and a one-year low of $51.69. Currently, XPO Logistics has an average volume of 1.72M.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
XPO Logistics, Inc. engages in the provision of supply chain solutions. It operates through the Transportation and Logistics segments. The Transportation segment includes freight brokerage, last mile, less-than-truckload, full truck load, and global forwarding services.
