GXO Logistics price target raised to $65 from $58 at Wells Fargo

Wells Fargo analyst Christian Wetherbee raised the firm’s price target on GXO Logistics (GXO) to $65 from $58 and keeps an Overweight rating on the shares. The firm says that coming off its callback, Wells is raising Q4 estimates. Overall, Q3 was good in light of ongoing volume headwinds, with margins accelerating sequentially. Organic revenue growth appears to have bottomed suggesting earnings accelerate from here, the firm adds.