Stifel cuts GXO Logistics PT on slower print business

Stifel cut GXO Logistics' GXO.N price target to $63 from $66, an upside of 58.7% to the stock's last close

Reiterates rating of 'buy'

Says co's print business underperformed in comparison to other logistics peers, especially due to slower revenue growth in Europe

Co's Q1 revenue in Europe grew 2.5% on year to $656 mln

Brokerage expects co's earnings to do well in coming quarters driven by growing pipeline, despite macroeconomic uncertainty

Shares up nearly 1% at $40

Co on Wednesday posted Q1 adj EPS of 29 cents, compared with 45 cents from the same quarter last year

Thirteen of 18 brokerages rate the stock "buy" or higher, five "hold"; their median PT is $55 - LSEG

Including session's moves, shares down 8.2% YTD