RXO Inc. price target lowered to $21 from $25 at TD Cowen

TD Cowen lowered the firm’s price target on RXO Inc. (RXO) to $21 from $25 and keeps a Hold rating on the shares. The firm said Q1 guidance calls for brokerage volume declines of mid-to-high-single digits despite more than doubling brokerage business with Coyote acquisition, and adjusted EBITDA commentary 20% below consensus in 1Q partially due to weather impacts on the supply chain.