Morgan Stanley Maintains Equal-Weight Rating for XPO: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Equal-Weight rating for XPO Logistics (NYSE:XPO) and increased its price target from $45.00 to $65.00. XPO's shares are currently trading at $72.81, which is 0.93% lower than the previous day. A move to $65.00 would represent a 10.73% decrease from the current share price. XPO is transitioning to a pure-play asset-based less-than-truckload carrier following the spinoff of its contract logistics division (GXO) in 2021 and freight brokerage operations (RXO) in 2022.
August 15, 2023 | 5:00 pm
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Morgan Stanley has maintained its Equal-Weight rating for XPO Logistics and raised its price target. This could potentially influence investor sentiment and impact the stock's price.
Analyst ratings and price targets can significantly influence investor sentiment and trading behavior. In this case, Morgan Stanley's decision to maintain its Equal-Weight rating for XPO and raise its price target could potentially impact the stock's price. However, the stock is currently trading above the new price target, which might lead to some uncertainty among investors.
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