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GXO Logistics price target raised to $60 from $56 at Morgan Stanley

Morgan Stanley analyst Ravi Shanker raised the firm’s price target on GXO Logistics (GXO) to $60 from $56 and keeps an Overweight rating on the shares. The firm believes GXO is officially in its “reset era,” with a Q2 beat and a 2nd guidance raise in as many months showing a path to restoration of numbers. Wincanton and customer churn are behind them and they will have a new CEO, CFO and refreshed Board soon. Morgan Stanley sees $3-plus normalized EPS and a $60-plus stock back in play.

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