Raymond James Initiates QXO (QXO) at Outperform with $28 Price Target

QXO Inc. (NYSE:QXO) is one of the best stocks for day trading. On September 5, Raymond James analyst Sam Darkatsh initiated coverage on QXO Inc. (NYSE:QXO) with an Outperform rating and a $28 price target. The analyst pointed to the company’s recent acquisition of Beacon Roofing as a pivotal step in establishing a scalable platform in building products distribution.

Darkatsh sees QXO Inc.’s (NYSE:QXO) ambition to reach $50 billion in revenue as a long-term growth opportunity and describes the current risk-reward setup as attractive. He said that lacklustre investor sentiment is an overhang over share prices currently.

At the same time, he cautioned that execution remains critical for the company, with integration and operational delivery likely to determine whether the company’s strategy can gain investor confidence.

QXO Inc. (NYSE:QXO) is a distributor of roofing, waterproofing, and complementary building products in the United States.

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