- Jefferies defends XPO Logistics (XPO -6.3%) after the company announced an equity raise earlier today through the sale of 5M shares.
- Analyst Hamzah Mazari says XPO CEO Brad Jacobs selling shares is not a big deal, noting the exec is still the largest shareholder. Mazari adds that the "opportunistic" sales coincides with XPO's fundamental tailwinds still intact and helps de-lever the balance sheet.
- XPO is viewed favorably on Wall Street in general, with 16 Buy-equivalent ratings or better stacking up against 3 Neutral-equivalent ratings and one Sell-equivalent rating.
- Shares of XPO are up 26% YTD and trade above their 50-day, 100-day and 200-day moving averages.