GXO Logistics price target raised to $77 from $75 at Stifel

Stifel raised the firm’s price target on GXO Logistics (GXO) to $77 from $75 and keeps a Buy rating on the shares after the company announced an agreement to acquire PFSweb (PFSW) for $7.50 per share in cash. PFS has a footprint of 11 distribution centers throughout North America, Belgium, and the U.K. and the acquisition “fits squarely within GXO’s principal M&A bolt-on strategy,” the analyst tells investors. The firm expects “modest” cost synergies, but overall, the deal impact to its financial model is “minimal,” the analyst added.