Why QXO Stock Is Shooting Higher Today

A Wall Street analyst has high hopes for building products distributor QXO (QXO 10.27%), and investors are taking note.Shares of QXO traded up 12% as of 10:30 a.m. ET after Wolfe Research set a target price for the stock that is more than 150% above where the shares closed Thursday. A very bullish price targetQXO was formed last year by serial entrepreneur Brad Jacobs with a goal of consolidating the building products distribution business. In April, the company closed an $11 billion acquisition of Beacon R ...