Jefferies Starts GXO Logistics Inc. (GXO) at Buy

Jefferies analyst Hamzah Mazari initiates coverage on GXO Logistics Inc. (NYSE: GXO) with a Buy rating and a price target of $103.00.

The analyst commented, "We are initiating coverage of GXO with a Buy Rating and a $103 PT. GXO is the number two global contract logistics provider and largest pure-play in the space. We believe secular tailwinds in outsourcing and e-commerce can drive organic growth toward the higher end of 8-12% while continuing to grow margins, which should result in multiple expansion. We also believe the M&A opportunity is underappreciated given the fragmentation in the logistics marketplace."

For an analyst ratings summary and ratings history on GXO Logistics Inc. click here. For more ratings news on GXO Logistics Inc. click here.

Shares of GXO Logistics Inc. closed at $86.22 yesterday.

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