RXO Inc. reinstated with a Neutral at Goldman Sachs

Goldman Sachs reinstated coverage of RXO Inc. (RXO) with a Neutral rating and $29 price target following the closing of the Coyote acquisition. The firm says its near term relative enthusiasm in the shares is tempered by RXO’s valuation and a share price that is already up about 20% year-to-date. Goldman also recognizes the potential for upward growth trajectory post its purchase of Coyote – making RXO the third largest freight brokerage.