QXO

QXO · NYSE

$10.46+$0.32 (+3.16%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $10.14

QXO analyst rating

BuyConsensus of 10 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy10
Hold0
Underperform0
Sell0

12-month price target · 17 analysts

Average $27.48 (+162.7% upside)

Low: $18.18
Now: $10.46
High: $37.80

Upgrades and downgrades

The latest rating actions, newest first

QXO analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Wells Fargo	Oct 16, 2026	Maintains	Overweight	$16.00 → $15.00	47%
Wells Fargo	Oct 13, 2026	Maintains	Overweight	$18.00 → $16.00	47%
Truist Securities	Oct 8, 2026	Maintains	Buy	$26.00 → $15.00	53%
RBC Capital	Oct 7, 2026	Maintains	Outperform	$27.00 → $18.00	59%
DA Davidson	Aug 25, 2026	Initiates	Buy	$26.00	52%
Citigroup	Jul 13, 2026	Maintains	Buy	$28.00 → $25.00	54%
RBC Capital	Jul 10, 2026	Maintains	Outperform	$27.00	59%
Keybanc	Jul 1, 2026	Maintains	Overweight	$32.00 → $28.00	21%
Citigroup	May 15, 2026	Maintains	Buy	$30.00 → $28.00	54%
Stephens & Co.	May 14, 2026	Maintains	Overweight	$29.00 → $26.00	57%

The case for and against

Updated Oct 14, 2026

Bull case

QXO is viewed favorably because its acquisition of TopBuild, expected to close in 3Q26, adds a premium, industry-leading-margin asset that enhances scale, pricing power, and cross-sell opportunities across a fragmented North American building products market. Its pro forma outlook points to 2030E revenue of $35 billion, adjusted EBITDA of $5.5 billion, and free cash flow of $3.7 billion, while the company’s tech stack should be fully implemented at Beacon by year-end 2026 and for Kodiak and TopBuild into mid-2027, supporting synergy realization. With core roofing demand showing sequential improvement, management’s proven acquisition-and-improvement playbook, and a path to more than $10 billion of incremental acquisitions from 2027E-2030E, the company has a credible runway toward its $50 billion revenue ambition within a decade.

Bear case

QXO is exposed to significant fundamental risk because its growth story depends heavily on M&A, yet deal scarcity, regulatory barriers, and integration failures could prevent the company from sourcing and closing attractive acquisitions at reasonable valuations. A prolonged slowdown in residential or non-residential construction, along with higher-for-longer interest rates, could reduce volume, compress pricing, raise capital costs, and weaken M&A appetite, while commodity and supply chain volatility would add further pressure. The company also faces execution risk in its plan to double the EBITDA of each acquisition, as ERP rollouts, tech spending, and weak organic margin expansion could limit sales growth, cash generation, and long-term returns.

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