QXO rises after William Blair initiates with 'outperform' rating

** Shares of QXO QXO.N rise 1.64% to $20.48 premarket after William Blair initiates coverage with "outperform" rating

** "We believe QXO will become one of the largest players in the $800 billion building products distribution industry," brokerage says

** Beacon Roofing in March agreed to $11 billion buyout offer from QXO, ending takeover battle

** Brokerage says it expects QXO to buy another large distributor soon

** All 3 brokerages covering stock rate it "strong buy"; their median PT is $32 - LSEG data

** Up to last close, stock has risen 26.7% YTD