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RXO Inc. initiated with an Equal Weight at Wells Fargo
The Fly

RXO Inc. initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of RXO Inc. (RXO) with an Equal Weight rating and $31 price target While the firm sees value creation from the Coyote acquisition, it believes the lingering estimate risk is a headwind and brokerage typically performs better post initial cycle turn, which may be on the near-term horizon. A common theme in Transports has been inflated consensus estimates, and Wells feels RXO shares this risk.

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