William Blair Reiterates a Buy Rating on QXO, Inc. (QXO)

QXO, Inc. (NYSE:QXO) is one of the top NYSE stocks with the highest upside potential. William Blair analyst Ryan Merkel maintained a buy rating on QXO, Inc. (NYSE:QXO) on July 20 without assigning a price target.

The analyst stated that QXO, Inc.’s (NYSE:QXO) recent business developments and strategic vision support the buy rating, as the company has recently completed the acquisition of Beacon.

The acquisition aligns with the company’s goal of becoming a tech-enabled leader in the substantial $800 billion building products distribution industry over the coming decade, according to the analyst.

He expects the acquisition to lay the base for margin acceleration by 2026, suggesting an optimistic future for QXO, Inc. (NYSE:QXO).

The expectation of another acquisition or merger deal suggests potential for further expansion and growth for the company, according to the analyst.

QXO, Inc. (NYSE:QXO) distributes roofing, waterproofing, and complementary building products in the United States. The company has plans to become a tech-enabled player in the building products distribution industry.

While we acknowledge the potential of QXO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.