UPDATE: Deutsche Bank Starts GXO Logistics Inc. (GXO) at Buy

August 4, 2021 3:23 AM EDT
Get Alerts GXO Hot Sheet
Price: $81.32 -2.9%

Rating Summary:
    6 Buy, 4 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - August 4, 2021 6:43 AM EDT)

Deutsche Bank analyst Amit Mehrotra initiates coverage on GXO Logistics Inc. (NYSE: GXO) with a Buy rating and a price target of $81.00.

The analyst comments "GXO - XPO's former global Logistics business - began trading as a separate company yesterday on the NYSE. In this note, we launch coverage of GXO with a Buy rating and $81 price target, which is a continuation of our positive stance on the company's secular growth prospects pre-spin. Background: Our long-held positive stance on XPO in part reflects growth prospects of the company's Logistics business (now GXO), where the company's capabilities are well-aligned with how supply chains are changing on the back of e-commerce growth. This opportunity is reflected in GXO's growth outlook (+8- 12% top line growth in 2022, more than half of which is attributable to new business wins). Even under conservative valuation parameters, we see solid upside in GXO shares; and in reality we expect nice multiple expansion as sustainability of growth receives greater appreciation from market participants."

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 $66.38 yesterday.

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