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.
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Read More on GXO:
- GXO Logistics Reports Strong Q3 2024 Revenue Growth
- GXO Logistics Highlights Non-GAAP Financial Measures for 2024
- GXO Logistics reports Q3 adjusted EPS 79c, consensus 75c
- GXO Logistics sees FY24 adjusted EPS $2.73-$2.93, consensus $2.77
- Is GXO a Buy, Before Earnings?
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