Barclays analyst Brandon Oglenski lowered the firm’s price target on RXO Inc. to $24 from $27 and keeps an Overweight rating on the shares. The analyst says company guidance for a “normal” sequential earnings outcome in Q4 suggests freight recovery will take longer. The firm reduced 2024 expectations as a result but sees long-term upside if management can leverage recent brokerage customer growth with more lucrative “spot” business in the future.
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