In a report released today, Scott Schneeberger from Oppenheimer maintained a Buy rating on XPO Logistics (NYSE: XPO), with a price target of $119. The company’s shares closed yesterday at $99.06.
Schneeberger noted:
“Overall business conditions have remained strong across American/European portfolio. We’re anticipating 2Q18 to represent a third consecutive quarter of double-digit organic growth/to remain elevated thereafter. XPO won $2.8B (annualized revenue) of new business in 2017/$972M in 1Q18/ highlights a $3.66B global pipeline, which bodes well for continued conversion (such as XPO’s 6/18/18 announcement with Nestlé). XPO’s new business wins, which initiate on a lag and progressively ramp, provide a tail of continued growth over a multi-year period. Considering favorable 2Q18 business backdrop/XPO’s new win dynamic/demonstrated proficiency of reinvesting in its business while maintaining guided profitability, we’re comfortably maintaining our 2Q18E/2018E/2019E adjusted EBITDA. With accretive M&A looming, we view XPO as intriguing at its current trading level. Reiterate Outperform.”
According to TipRanks.com, Schneeberger is a 5-star analyst with an average return of 12.6% and a 67.4% success rate. Schneeberger covers the Services sector, focusing on stocks such as Service Corp International, General Finance, and Ritchie Bros.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for XPO Logistics with a $121.29 average price target.
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The company has a one-year high of $115.49 and a one-year low of $54.34. Currently, XPO Logistics has an average volume of 1.58M.
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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.
