RXO Inc. initiated with a Hold at Benchmark

Benchmark analyst Christopher Kuhn initiated coverage of RXO Inc. (RXO) with a Hold rating and no price target. RXO, the recent spin-off from XPO Logistics (XPO), is the fourth largest provider in the asset-light truck brokerage market with leading market positions in final mile and managed transportation the analyst tells investors. While Benchmark likes RXO’s long-term opportunity in the secularly growing truck brokerage industry, it believes the current valuation accurately reflects the long-term opportunity and would be looking for a better entry point.