Searching out deep value in US trucking
Weakness in the price?
By Mike Weir
Investors in XPO Logistics must be experiencing that feeling when you pump up a tyre and realise you haven’t fixed the puncture.
The $5.5bn market cap US-focused final-mile logistics corporation was, until recently, an $11bn market cap player. Hammered by a critical (and hotly contested) shortseller report in December, XPO has countered by buying back its own stock, but to little avail – is it doing so to prevent a takeover at a bargain price?
That is a legitimate question. From a peak ...
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