B of A Securities Downgrades RXO to Neutral, Lowers Price Target to $22
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Ken Hoexter downgraded RXO (NYSE:RXO) from Buy to Neutral and reduced the price target from $25 to $22, indicating a more cautious outlook on the company's stock.
February 08, 2024 | 8:08 pm
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RXO was downgraded by B of A Securities from Buy to Neutral with a lowered price target from $25 to $22, suggesting a tempered expectation for the stock's performance.
The downgrade from Buy to Neutral by a significant analyst such as B of A Securities, coupled with a reduction in the price target, typically signals a less optimistic view on the stock's future performance. This can influence investor sentiment and potentially lead to a short-term decrease in stock price.
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