Wells Fargo initiated coverage of RXO Inc. (RXO) with an Equal Weight rating and $31 price target While the firm sees value creation from the Coyote acquisition, it believes the lingering estimate risk is a headwind and brokerage typically performs better post initial cycle turn, which may be on the near-term horizon. A common theme in Transports has been inflated consensus estimates, and Wells feels RXO shares this risk.
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Read More on RXO:
- RXO, Inc. Reports Strong Q3 2024 Results
- RXO Reports Strong Q3 2024 Amid Coyote Acquisition
- RXO Inc. reports Q3 adjusted EPS 5c, consensus 4c
- RXO Inc. sees Q4 adjusted EBITDA $40M-$45M
- RXO Inc. price target raised to $23 from $20 at Wolfe Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
