GXO Logistics price target lowered to $70 from $72 at TD Cowen

TD Cowen analyst Jason Seidl lowered the firm’s price target on GXO Logistics to $70 from $72 and keeps an Outperform rating on the shares. The firm updated their model to reflect weaker than expected 4Q and holiday peak. They also lowered their 2024 estimates to reflect continued softness entering the new year as the company customers face a challenging business environment.