Why XPO Stock Accelerated This Week
A Wall Street analyst says demand is holding up well for trucking company XPO (NYSE: XPO), even as a competitor is at risk of driving into a ditch. The analyst upped his price target on the stock and investors followed, sending shares of XPO up as much as 14% for the week, according to data provided by S&P Global Market Intelligence.
The trucking industry has been on a wild ride in recent years. A surge in demand following the pandemic created supply chain bottlenecks and delays. More recently, fears of a global slowdown caused by higher interest rates have led to worries that demand for trucking could collapse.
The industry is also bracing for the possible fallout of a potential Yellow bankruptcy and United Parcel Service strike. Earlier this week, Yellow deferred its required contributions to its pension plan, a move that could trigger a strike by its workforce and could push the company into bankruptcy. UPS, meanwhile, has until the end of the month to resolve its differences with workers or face a work stoppage.
Source Fool.com
United Parcel Service Inc. Stock
We see a rather positive sentiment for United Parcel Service Inc. with 19 Buy predictions and 2 Sell predictions.
With a target price of 157 € there is a positive potential of 33.48% for United Parcel Service Inc. compared to the current price of 117.62 €.
