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.
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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
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