UBS initiated coverage of GXO Logistics with a Buy rating and $74 price target. The company has has built a “strong track record” over the past four years with annual revenue and EBITDA growth of 10.3% and 13.9%, respectively, the analyst tells investors in a research note. The firm says visibility to more growth is supported by GXO’s skills in automation and reverse logistics and by a strong customer base with leverage to e-commerce and retail.
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