In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on XPO Logistics (XPO), with a price target of $62. The company’s shares closed on Friday at $51.97, close to its 52-week low of $41.05.
Schneeberger observed:
“Having executed deftly/grown at an elevated pace since its inception (2011), 2H18-1Q19 has marked XPO’s first major growing pain period. Recently impacted by its largest customer downsizing, other (less significant, but high profile) lost business, and multiple adverse headlines, XPO’s missed two consecutive quarters/ reduced 2019 (informal/formal) adjusted EBITDA guidance twice. Correspondingly, we’re reducing our 2019-2020E adjusted EBITDA and reducing our price target from $96 to $62. However, we’re maintaining our Outperform rating as we anticipate XPO adjusting to its largest customer downsizing and returning to its compelling growth story as soon as the back of 2019.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 7.8% and a 63.2% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and United Parcel.
XPO Logistics has an analyst consensus of Strong Buy, with a price target consensus of $78.09, which is a 50.3% upside from current levels. In a report issued on February 6, Loop Capital Markets also initiated coverage with a Buy rating on the stock with a $75 price target.
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The company has a one-year high of $116.27 and a one-year low of $41.05. Currently, XPO Logistics has an average volume of 4.26M.
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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.
