Wells Fargo analyst Christian Wetherbee raised the firm’s price target on GXO Logistics (GXO) to $48 from $44 and keeps an Overweight rating on the shares. The firm notes the CMA cleared GXO’s Wincanton deal, requiring only a few U.K. grocery contract divestitures, which is a good outcome. GXO also raised guidance, citing stronger volumes and improved productivity gains, Wells says, adding that shares should react favorably.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GXO:
- GXO Logistics raises FY25 adjusted EPS view to $2.43-$2.63 from $2.40-$2.60
- GXO Logistics reports CMA clears acquisition of Wincanton with conditions
- GXO Logistics introduces enhanced GXO Direct solution in the U.S.
- GXO Logistics management to meet with Oppenheimer
- GXO Logistics extends longstanding partnership with bioMerieux