Benzinga | Aug 27, 2021 03:49PM EDT

XPO Logistics Price Target Lowered To $105 At Truist Securities, Maintains Buy

* Truist analyst Stephanie Moore lowered the price target on XPO Logistics Inc (NYSE:XPO) to $105 (implying an upside of 19%) from $185 and maintained a Buy rating on the shares.

* Moore adjusted her model after the completion of the company's spin-off of GXO Logistics Inc (NYSE:GXO).

* She adds that the assumed 12.4-times forward EBITDA multiple is in line with the broader peer average of 10- to 19-times and a discount to the current multiple of 14.5-times due to XPO's increased leverage profile.

* In August, many analyst firms have lowered their price target on XPO to reflect the spin-off of GXO and have maintained the ratings on the shares.

* Price Action: XPO shares are trading higher by 1.88% at $88.24 on the last check Friday.