In a report released on June 20, Ravi Shanker from Morgan Stanley maintained a Buy rating on GXO Logistics (GXO – Research Report), with a price target of $56.00.
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Ravi Shanker has given his Buy rating due to a combination of factors that indicate a positive outlook for GXO Logistics. The company recently resolved the Wincanton CMA investigation, which was a significant hurdle, and this resolution aligns with market expectations. Additionally, GXO has raised its guidance, reflecting better-than-expected volumes and productivity gains, as well as greater clarity on synergies from the Wincanton acquisition.
Moreover, the appointment of Patrick Kelleher as the new CEO is seen as a strategic move, given his extensive experience in the logistics industry. These developments have cleared the path for GXO, providing enough visibility for investors to consider it a long-term growth opportunity, particularly with its exposure to the European market. The combination of these factors suggests that GXO is well-positioned for future growth, making it an attractive investment option.
In another report released on June 20, TD Cowen also reiterated a Buy rating on the stock with a $62.00 price target.