BofA raised the firm’s price target on RXO Inc. (RXO) to $18 from $15 and keeps a Neutral rating on the shares. After having hosted 98 companies and industry experts at BofA’s annual Industrial, Transportation, & Airlines Conference, the firm is increasing price targets on rails, less-than-truckload shippers, truckload shippers, and intermodal carriers an average of 9%, and making a 10% multiple increase on average, given the shift from a recession outlook to increased volume flow targets, at least until mid-Summer, the analyst tells investors.
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Read More on RXO:
- RXO, Inc. Balances Growth and Challenges in Earnings Call
- RXO Inc. price target lowered to $14 from $24 at UBS
- RXO, Inc. Hold Rating: Balancing Progress with Market Challenges and Freight Recession Concerns
- RXO, Inc. Reports Strong Revenue Growth Amid Integration Success
- Cautious Outlook on RXO, Inc. Amid Market Volatility and Financial Challenges
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