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.
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