Oppenheimer reiterates an Outperform rating on XPO Logistics (NYSEMKT:XPO) as it calls out the attractive entry point for new investors.
"Expecting strong business condition contribution, additional sizable new business wins, overall execution to perpetuate, and with accretive potential M&A looming, we view XPO's current stock price a compelling entry point. XPO is trading at just 9.8x EV/EBITDA our organic (excludes potential M&A contribution) 2019E of $1.8B," reads the firm's note.
Oppenheimer assigns a price target of $119 to XPO (11.4X EV/EBITDA the 2019 EPS estimate).
Shares of XPO fell 4.29% yesterday and are down 12% over the last month.
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