XPO, Inc price target raised to $176 from $148 at Oppenheimer

Oppenheimer analyst Scott Schneeberger raised the firm’s price target on XPO, Inc (XPO) to $176 from $148 and keeps an Outperform rating on the shares after meeting with the management. Via its improving service/solid yield growth/investments in capacity/effective execution upon efficiency initiatives, XPO’s on-track to improve its 2024 LTL operating ratio by 250bps year-over-year, the firm notes. This is in excess of its direct publicly traded peers, and Oppenheimer views XPO as well positioned to perpetuate its strong operating ratio expansion as many of its initiatives are still in the early innings.