Core Viewpoint - QXO, Inc. has seen a 21.9% increase in share price over the past four weeks, closing at $20.73, with analysts suggesting a potential upside of 65.6% based on a mean price target of $34.33 [1][11]. Price Targets and Analyst Estimates - The mean price target consists of three short-term estimates with a standard deviation of $8.74, indicating variability among analysts. The lowest estimate is $27.00 (30.3% increase), while the highest is $44.00 (112.3% increase) [2][9]. - Analysts' price targets can often mislead investors, as empirical research shows that they rarely indicate actual stock price movements [7][10]. - A low standard deviation in price targets suggests a strong agreement among analysts regarding the stock's price direction, which can serve as a starting point for further research [9]. Earnings Estimates and Analyst Sentiment - There is growing optimism among analysts regarding QXO's earnings prospects, supported by a strong consensus in revising EPS estimates higher, which correlates with potential stock price increases [11][12]. - Over the past 30 days, one estimate has increased with no negative revisions, leading to a 425% increase in the Zacks Consensus Estimate for the current year [12]. - QXO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate factors, indicating strong potential for upside [13]. Conclusion on Price Movement - While the consensus price target may not be a reliable measure of QXO's potential gains, the implied direction of price movement appears to be a useful guide for investors [14].
Wall Street Analysts Predict a 65.61% Upside in QXO INC (QXO): Here's What You Should Know