RXO Inc. price target raised to $31 from $22 at Oppenheimer

Oppenheimer raised the firm’s price target on RXO Inc. to $31 from $22 and keeps an Outperform rating on the shares. The firm notes RXO delivered Q2 adjusted EBITDA of $28M that exceeded its estimate/consensus of $25M$/26M, respectively. Q2 revenue/adjusted EPS were consistent with expectations. Albeit decelerating, RXO still delivered +4% Truck Brokerage segment volume growth, which represented outperformance vs. the industry, Oppenheimer adds.