RXO Inc. price target lowered to $19 from $24 at Truist

Truist analyst Lucas Servera lowered the firm’s price target on RXO Inc. (RXO) to $19 from $24 and keeps a Buy rating on the shares as part of a broader research note on Transportation & Logistics. The firm is reducing its estimates and price targets to reflect a more muted macro backdrop, stating that the T&L sector has already effectively been in a freight recession for over 30 months, the analyst tells investors in a research note. Unlike during economic downturns, the overall industry tonnage index remained relatively stable through 2024 and into 2025, supported by continued growth in U.S. GDP, retail sales, and e-commerce volumes, but while demand for goods movement persisted, pricing across the truckload market came under significant pressure, the firm adds.