Wells Fargo starts coverage of XPO (XPO) with a recommendation of overweight.

Fintel reports that on June 7, 2024, Wells Fargo initiated coverage of XPO (NYSE:XPO) with a Overweight recommendation.

Analyst Price Forecast Suggests 24.60% Upside

As of June 1, 2024, the average one-year price target for XPO is 136.47. The forecasts range from a low of 82.82 to a high of $168.00. The average price target represents an increase of 24.60% from its latest reported closing price of 109.53.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for XPO is 7,911MM, an increase of 0.71%. The projected annual non-GAAP EPS is 3.77.

What is the Fund Sentiment?

There are 1,003 funds or institutions reporting positions in XPO. This is an increase of 69 owner(s) or 7.39% in the last quarter. Average portfolio weight of all funds dedicated to XPO is 0.39%, an increase of 2.88%. Total shares owned by institutions decreased in the last three months by 2.35% to 135,774K shares. The put/call ratio of XPO is 1.17, indicating a bearish outlook.

What are Other Shareholders Doing?

MFN Partners Management holds 12,675K shares representing 10.90% ownership of the company. No change in the last quarter.

Capital Research Global Investors holds 10,203K shares representing 8.77% ownership of the company. In its prior filing, the firm reported owning 9,291K shares , representing an increase of 8.94%. The firm increased its portfolio allocation in XPO by 40.70% over the last quarter.

AMCPX – AMCAP FUND holds 6,133K shares representing 5.27% ownership of the company. In its prior filing, the firm reported owning 5,906K shares , representing an increase of 3.71%. The firm increased its portfolio allocation in XPO by 29.32% over the last quarter.

Capital World Investors holds 4,492K shares representing 3.86% ownership of the company. In its prior filing, the firm reported owning 4,349K shares , representing an increase of 3.18%. The firm increased its portfolio allocation in XPO by 33.90% over the last quarter.

Orbis Allan Gray holds 4,297K shares representing 3.69% ownership of the company. In its prior filing, the firm reported owning 5,651K shares , representing a decrease of 31.49%. The firm decreased its portfolio allocation in XPO by 24.53% over the last quarter.

XPO Logistics Background Information
(This description is provided by the company.)

XPO Logistics, Inc. provides cutting-edge supply chain solutions to the most successful companies in the world. The company is the second largest contract logistics provider and the second largest freight broker globally, and a top three less-than-truckload provider in North America. XPO uses a highly integrated network of 1,629 locations and over 100,000 employees in 30 countries to help more than 50,000 customers manage their supply chains most efficiently. The company’s corporate headquarters are in Greenwich, Conn., USA, and its European headquarters are in Lyon, France. Visit xpo.com

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This story originally appeared on Fintel.

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