QXO (QXO) Bullish Rating Propels Stock by 11.66%

We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. QXO Inc. (NYSE:QXO) is one of the best-performing stocks on Thursday.

QXO extended its winning streak to a third consecutive day on Wednesday, jumping 11.66 percent to finish at $22.50 apiece as investor sentiment was buoyed by an investment firm’s bullish rating for its stock.

In its first coverage of QXO Inc. (NYSE:QXO), investment firm William Blair & Company gave an “outperform” rating on its stock with a target range between $27 and $44. The price target gives QXO Inc.’s (NYSE:QXO) stock as much as 95-percent upside from its latest closing price.

According to William Blair, QXO Inc. (NYSE:QXO) has the potential to become a major player in the $800-billion building products distribution industry.

The analyst rating followed the company’s acquisition of Beacon Building Products for $11 billion, making it the largest publicly traded distributor of roofing, waterproofing, and complementary building products in the United States.

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William Blair expects QXO Inc. (NYSE:QXO) to pursue another large acquisition as part of its “big game hunting” strategy, and propel its revenues to $50 billion in revenue in the next decade.

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.