TD Cowen raised the firm’s price target on RXO Inc. (RXO) to $16 from $15 and keeps a Hold rating on the shares. The firm said results came in above expectations in Q2 as LTL strength and Last Mile drove the beat, TL volumes trended lower. Q3 guidance at the midpoint calls for a similar quarter sequentially and does not assume volume improvement off of July as peak remains uncertain.
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Read More on RXO:
- RXO Inc. price target raised to $15 from $14 at UBS
- RXO, Inc.: Hold Rating Maintained Amid Stable Outlook and Modest Growth Expectations
- RXO, Inc.: Balancing Profitability Amid Market Challenges with a Hold Rating
- RXO, Inc. Reports Strong Q2 Performance Amid Market Challenges
- RXO, Inc. Hold Rating: Strong LTL and Last Mile Performance Amid TL Challenges and Uncertain Outlook