RXO Inc. price target raised to $17 from $14 at Stifel

Stifel analyst J. Bruce Chan raised the firm’s price target on RXO Inc. (RXO) to $17 from $14 and keeps a Hold rating on the shares. Since last week, spot rates have moved higher despite “no discernible change in core freight demand,” says the analyst, who thinks investors should continue to expect muted demand with a sub-seasonal second half and soft peak season. Third-party logistics gross margins should temporarily compress, the analyst added.