RXO Inc. price target lowered to $18 from $22 at Barclays

Barclays lowered the firm’s price target on RXO Inc. (RXO) to $18 from $22 and keeps an Overweight rating on the shares. The company’s Q1 is inline with consensus as better last-mile results offset weak truckload brokerage volumes, the analyst tells investors in a research note. The firm says RXO’s revenue headwinds are likely across segments, driving down its forecasts despite increased synergies and likely improved purchased transportation costs. RXO reported “another soft quarter,” with EBITDA on the low end of guidance and tepid volume growth overall, contends Barclays.