Morgan Stanley analyst Ravi Shanker raised the firm’s price target on GXO Logistics to $66 from $60 and keeps an Overweight rating on the shares, stating that the company "did not disappoint" with five-year targets delivered during its inaugural analyst day. The "lofty bar" set by the guidance that was "well ahead" of where the Street was should help drive the first leg up for the stock, while "actually delivering them will bring the rest," Shanker tells investors.
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Published first on TheFly
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- GXO Logistics price target raised to $65 from $60 at Jefferies
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