Truist Financial Reiterates a Buy Rating on QXO, Inc. (QXO)

QXO, Inc. (NYSE:QXO) is one of the best stocks to buy with over 50% upside potential. Truist Financial analyst Keith Hughes reiterated a Buy rating on QXO, Inc. (NYSE:QXO) on October 29.

William Blair analyst Ryan Merkel also maintained a bullish outlook on the stock on October 20, without assigning a price target.

Merkel based the optimistic rating on the company’s potential and performance, stating that QXO, Inc.’s (NYSE:QXO) fiscal Q3 results not only aligned with expectations but also surpassed the broader market expectations. These trends show stable performance amid the challenges of the industry.

The analyst further expects a boost in QXO, Inc.’s (NYSE:QXO) performance by 2026, supported by factors such as improvements in sales execution and pricing, inventory management, and procurement.

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.