.September 5, 2024 04:26:00 PM

TD Cowen analysts have revised their price target for XPO to $142, down from $143, while maintaining a Buy rating. The adjustment was made after the firm updated its model to reflect recent performance, showing a 4.6% decline in tonnage per day in August. This was below seasonal expectations due to XPO’s exposure to the weakened industrial economy, leading to lower volume assumptions for the second half of the year. Despite this, analysts are confident in the company’s ability to meet yield and margin targets through cost and yield optimization efforts. The new price target is based on an estimated $5.80 earnings per share for 2026 and a 24.5x valuation multiple.