From Downgrade To Buy: XPO Stock Back In Favor As Analyst Recognizes Turnaround Progress
Portfolio Pulse from Lekha Gupta
Stifel analyst J. Bruce Chan upgraded XPO, Inc. (NYSE:XPO) from Hold to Buy and increased the price target from $115 to $120, citing strong internal productivity management and solid execution on its LTL 2.0 turnaround plan. The company reported strong Q1 FY24 results with revenue up 5.8% Y/Y and operating income more than doubled. Chan also raised EPS estimates for FY24 and FY25. Investors can gain exposure to XPO via ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:SUPL) and The Alger ETF Trust Alger Weatherbie Enduring Growth ETF (NYSE:AWEG).

May 24, 2024 | 5:48 pm
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POSITIVE IMPACT
Investors can gain exposure to XPO, Inc. via The Alger ETF Trust Alger Weatherbie Enduring Growth ETF (NYSE:AWEG). The positive outlook on XPO could benefit AWEG as it holds XPO shares.
Since AWEG holds XPO shares, the positive news and upgraded outlook for XPO could have a beneficial impact on AWEG's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to XPO, Inc. via ProShares Trust ProShares Supply Chain Logistics ETF (NYSE:SUPL). The positive outlook on XPO could benefit SUPL as it holds XPO shares.
Since SUPL holds XPO shares, the positive news and upgraded outlook for XPO could have a beneficial impact on SUPL's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Stifel analyst J. Bruce Chan upgraded XPO, Inc. from Hold to Buy and increased the price target from $115 to $120, citing strong internal productivity management and solid execution on its LTL 2.0 turnaround plan. The company reported strong Q1 FY24 results with revenue up 5.8% Y/Y and operating income more than doubled. Chan also raised EPS estimates for FY24 and FY25.
The upgrade from Hold to Buy and the increased price target from $115 to $120 are strong positive signals for XPO. The company's strong Q1 FY24 results and improved EPS estimates for FY24 and FY25 further support a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100