Morgan Stanley analyst Ravi Shanker upgraded GXO Logistics to Overweight from Equal Weight with a price target of $60, up from $45. The company’s 2023 "may have some noise" from currency moves and pension but this can be more than offset by GXO finally offering long-term targets at the upcoming investor day, Shanker tells investors in a research note. The analyst expects "impressive but achievable targets" and says they will go a long way to helping investors get visibility into the earnings power of the business and regain confidence in the story.
Published first on TheFly
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