JP Morgan Downgrades RXO to Underweight, Lowers Price Target to $16
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Brian Ossenbeck has downgraded RXO (NYSE:RXO) from Neutral to Underweight and lowered the price target from $17 to $16.
October 11, 2023 | 10:20 am
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NEGATIVE IMPACT
RXO has been downgraded from Neutral to Underweight by JP Morgan, with a lowered price target of $16.
The downgrade from JP Morgan, a major financial institution, could negatively impact investor sentiment towards RXO. The lowered price target suggests that the analyst sees less upside potential in the stock, which could lead to selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100