Jefferies lowered the firm’s price target on RXO Inc. (RXO) to $20 from $26 and keeps a Buy rating on the shares. While truckload demand and volumes will likely be a continued soft spot in Q1, the firm is encouraged by the relative resilience in tender rejection rates and load-to-truck ratios, the analyst tells investors in a preview for the group. Pointing to these facts as a sign that supply-demand equilibrium is closer today than it was in 2023-24, the firm would expect spot rates to rise in the months ahead, the analyst added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RXO:
- RXO Inc. price target lowered to $15 from $23 at Citi
- Booking Holdings upgraded, Nordstrom downgraded: Wall Street’s top analyst calls
- RXO Inc. downgraded to Perform from Outperform at Oppenheimer
- RXO Inc. price target lowered to $22 from $24 at Barclays
- Hold Rating for RXO, Inc.: Balancing Confidence in Strategic Initiatives with Near-Term Uncertainties