Loop Capital raised the firm’s price target on GXO Logistics to $79 from $74 and keeps a Buy rating on the shares. The company reported a handy Q1 beat vs. expectations on both the top and bottom line, but while the recent acquisition of European logistics company Wincanton drove higher 2024 EBITDA guidance, the longer-term projections through 2027 have been ratcheted down to reflect persistently stubborn freight markets, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GXO:
- GXO Logistics Reveals Insights in New Investor Presentation
- GXO Logistics sees FY24 adjusted EPS $2.73-$2.93, consensus $2.73
- GXO Logistics reports Q1 adjusted EPS 45c, consensus 43c
- GXO Logistics announces 20-year partnership agreement with Levi
- GXO to Manage Logistics Operations for Levi Strauss & Co at State-of-the-Art German Distribution Center