Morgan Stanley analyst Ravi Shanker upgraded RXO Inc. (RXO) to Overweight from Equal Weight with an unchanged price target of $19. After having visited with RXO management at the company’s Chicago tech hub and seeing key elements of their AI strategy, the firm calls the recent selloff “overdone,” the analyst tells investors. RXO can be amongst the leaders in the deployment of AI in the brokerage space and the firm remains confident that normalized EPS is at least $1, the analyst added.
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