Avondale Partners Likes XPO Logistics Defensive Appeal

On May 3 XPO Logistics XPO reported a Q1 loss of $0.08 compared with consensus expectations for a loss of $0.17. Operating Income growth YoY was a total blowout, up 398% to $31.9 million. Guidance for 2016 EBITDA of $1.25 billion was affirmed along with 2018 EBITDA target of $1.7 billion Analyst Donald Broughton remains positive on the company's outlook. Broughton says XPO is "one of our premier examples of companies that can provide earnings growth for shareholders in a difficult environment." Broughton believes the investment "woefully underappreciated" stance on XPO's assets is unwarranted, citing management's "best in class sense of urgency." Avondale maintains Market Outperform on XPO with a PT Of $40.00. Shares of XPO closed Thursday down 2.05 percent to $27.18
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