Wells Fargo raised the firm’s price target on RXO Inc. (RXO) to $22 from $15 and keeps an Equal Weight rating on the shares. Coming off its callback, the firm is raising estimates. Wells notes Q2 guide came in above its target, with higher spot exposure driving accelerating revenue growth, despite margin squeeze. Truckload volumes are improving, with a year-over-year inflection expected by midyear, the firm adds.
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Read More on RXO:
- Ken Hoexter Lifts RXO Price Target to $25 on AI-Driven Gains but Maintains Hold Amid Balanced Risk-Reward
- RXO Earnings Call Signals Early Supply-Led Recovery
- RXO Inc. downgraded to Equal Weight from Overweight at Morgan Stanley
- RXO Inc. reports Q1 adjusted EPS (9c), consensus (9c)
- RXO Inc. sees Q2 adjusted EBITDA $27M-$37M