GXO Logistics gains after report company exploring sale
** Shares of GXO Logistics GXO.N up 4.9% at $53.39 premarket
** Logistics services provider exploring a potential sale after receiving takeover interest, a person familiar with the matter tells Reuters
** GXO, spun off from trucking company XPO in 2021, is working with a financial adviser to field acquisition interest from suitors, which include rival logistics providers, source says
** Company has not made a final decision to proceed with a sale, possible that the talks may not result in a deal
** GXO has struggled as a publicly traded company, having lost more than a fifth of its market value since it was spun off from XPO
** But in recent quarters, GXO signed new customers and reported revenue growth of 19%
** Separately, Citigroup initiated coverage with "buy" rating and $60 PT on Wednesday
** Of 16 brokerages covering GXO, 13 rate "buy" or higher, 3 "hold"; median PT is $66 - LSEG data
** As of last close, stock down about 17% YTD
Reporting by Sukriti Gupta
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