Oppenheimer Believes XPO Logistics (XPO) Won’t Stop Here


In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on XPO Logistics (NYSE: XPO), with a price target of $122. The company’s shares closed on Friday at $114.17, close to its 52-week high of $116.27.

Schneeberger observed:

“XPO has delivered double-digit organic revenue growth for three consecutive quarters and overall business conditions have remained solid in 3Q18 across XPO’s Transportation/Logistics segments in North America/Europe. Company commentary/ checks indicate a formidable build ahead of peak, which combined with sizable new business wins over 2017/1H18 ramping/likely additional new wins should lend to a strong 3Q18. However, the quarter is unlikely to be blemish-free, as XPO’s UK Contract Logistics customer House of Fraser has recently struggled financially, which could prompt a 3Q18 write-off. Correspondingly, we’re tempering our 3Q18E adjusted EBITDA, but maintaining 2018E/2019E considering XPO’s strong peak/ overall business conditions and new business wins.”

According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.0% and a 69.2% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, Landstar System Inc, and General Finance.

XPO Logistics has an analyst consensus of Strong Buy, with a price target consensus of $122.43.

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Based on XPO Logistics’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $138 million. In comparison, last year the company had a net profit of $58.2 million.

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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.

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