Morgan Stanley Maintains Overweight Rating for GXO Logistics: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Morgan Stanley has maintained its Overweight rating on GXO Logistics (NYSE:GXO) but reduced its price target from $78.00 to $75.00. Despite the reduction, the new target suggests a significant 43.16% upside from the current price of $52.39. GXO Logistics is a contract logistics company with a diverse revenue stream and a strong presence in the United Kingdom.
November 10, 2023 | 5:00 pm
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Morgan Stanley maintains Overweight rating on GXO Logistics with a reduced price target of $75, indicating a potential 43.16% upside from the current price.
The maintenance of an Overweight rating by Morgan Stanley suggests a positive outlook on GXO Logistics, while the price target reduction is relatively minor and still indicates a substantial potential upside. This could be seen as a reaffirmation of confidence in the company's fundamentals, which may positively influence investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100