RXO Inc. initiated with a Market Perform at Cowen

Cowen analyst Jason Seidl initiated coverage of RXO Inc. with a Market Perform rating and $22 price target. Research suggests RXO is a leader in the digital brokerage space, but the company’s near-term earnings should be pressured by a weak freight market, the analyst tells investors in a research note. The firm says optimism on a Spring freight bounce "hinges on a resilient consumer backdrop."