Goldman Sachs Upgrades GXO Logistics Inc. (GXO) to Buy, 'Growth to accelerate with advances in warehouse robotics'

Goldman Sachs analyst Patrick Creuset upgraded GXO Logistics Inc. (NYSE: GXO) from Neutral to Buy with a price target of $68.00 (from $52.00).

The analyst comments "GXO's organic revenue growth post-pandemic (2023-25E) has averaged ~4% pa, significantly below the 8%-12% targeted by the company. However, we now believe that the company's organic growth outlook is improving, in the near term based on contract wins and Wincanton revenue synergies, and in the medium-term based on advances in warehouse automation and robotics, likely leading to an acceleration in outsourcing. As a result, we upgrade to Buy from Neutral."

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 $50.42 yesterday.

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