GXO Logistics price target lowered to $65 from $75 at Wells Fargo

Wells Fargo lowered the firm’s price target on GXO Logistics to $65 from $75 and keeps an Overweight rating on the shares. The firm says results illustrated GXO’s resiliency. Wells believes new business wins and churn are the key to value creation. Amid softness, the business wins have continued, and churn has remained stable, the firm adds.