RXO Inc. price target lowered to $19 from $23 at Stephens

Stephens analyst Jack Atkins lowered the firm’s price target on RXO Inc. to $19 from $23 and keeps an Equal Weight rating on the shares. While the firm is encouraged by the stock’s continued share gains, this is not translating into earnings stability or reduced cyclicality for the company, the analyst tells investors. Stephens believes RXO’s earning power is poised to improve meaningfully once the Truckload market is dislocated and spot activity reaccelerates, but, with its current stock value, the firm believes this is fully reflected in the shares.