GXO Logistics price target lowered to $63 from $68 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on GXO Logistics (GXO) to $63 from $68 and keeps a Neutral rating on the shares after its Q1 results. The firm notes that its view on the stock has not changed and that it sees a significant opportunity for the new management team to drive higher organic growth while also improving margins. Goldman Sachs adds, however, that the business is roughly two-thirds exposed to slower growth areas.