Wells Fargo analyst Allison Poliniak-Cusic lowered the firm’s price target on GXO Logistics to $58 from $70 and keeps an Overweight rating on the shares. At its upcoming analyst day January 12, the analyst expects GXO to provide 5-year growth targets which reflect the strength and stability of the core model. She views GXO’s scale and disciplined execution as key enablers to grab further market share in an industry benefiting from secular growth driven by e-commerce, warehouse automation, and outsourcing trends. Poliniak-Cusic is revising her numbers ahead of 2023 for increased FX and pension headwinds, lowering her 2023 EBITDA and EPS estimates to $689M and $2.35, respectively from $763M and $2.85.
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