Stock price when the opinion was issued
Is higher despite downgrades today. They spun off GXO and RXO. It now trades at 6x EBITDA vs. peers of 10x or 18x, so it's trading at a discount. XPO gained market share last quarter. Shares ran up 32% year to date before earnings, but expectations were so high, so shares fell back after the report. Still, it's cheap vs. peers and run by superior management.
Despite the non-stop boom in e-commerce, they lost their mojo in recent years. So last December, XPO spun off their faster-growing logistics business. It was a smart move, and the stock rallied 56% since then. The spin-off will be called GXO Logistics. After today's close, XPO reported a strong top and bottom line beat.