Why QXO, Inc. (QXO) Soared On Friday
We recently published a list of . In this article, we are going to take a look at where QXO, Inc. (NYSE:QXO) stands against other Friday's best-performing stocks.
QXO Inc. surged by 13.43 percent to close at $19 apiece as investors snapped up shares following a bullish rating and higher price target from an investment firm.
In its market note, Wolfe Research gave QXO, Inc. (NYSE:QXO) an 'outperform' rating with a price target of $44, representing a 131-percent upside from the company's last closing price.
A close-up of a construction worker installing an electrochromic glass panel, showing the company's focus on modern building products.
According to Wolfe Research, QXO, Inc. (NYSE:QXO) offers an exceptional organic EBITDA growth and a distinct opportunity to generate value through acquisitions.
Wolfe Research also believed that QXO, Inc. (NYSE:QXO) is capable of doubling its organic EBITDA within the next five years, supported by its use of data-driven and technology-centric strategies.
In April this year, QXO, Inc. (NYSE:QXO) completed its acquisition of Beacon Roofing Supply, Inc. for $11 billion. The acquisition made the former the largest publicly traded distributor of roofing, waterproofing, and related building materials in the US.
Overall, QXO ranks 5th on our list of Friday's best-performing stocks. While we acknowledge the potential of QXO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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