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.
The whole freight sector has been terrible for a while, then TFI recently reported a lousy quarter. XPO is -15% in one week, despite reporting okay earnings earlier this month.