Oppenheimer analyst Scott Schneeberger lowered the firm’s price target on GXO Logistics (GXO) to $55 from $67 and keeps an Outperform rating on the shares following quarterly results. The firm notes the EBITDA guidance was surprisingly below expectations on recent disruptions to three large contracts, which GXO anticipates gets absorbed in coming quarters. Acknowledging the near-term pain, Oppenheimer anticipates GXO to deliver longer-term gains.
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