Shares of RXO INC (RXO) surged 5.29% in intraday trading on Tuesday, following a significant upgrade from Morgan Stanley. The investment bank raised its rating on RXO from Equalweight to Overweight, signaling increased confidence in the company's prospects.
Prior to this upgrade, RXO had an average rating of "hold" from analysts polled by FactSet. The consensus price target for the stock stood at $15.56, suggesting potential upside from its current trading levels. The Morgan Stanley upgrade could potentially influence other analysts' views on the company.
This positive shift in analyst sentiment may indicate improving fundamentals or market positioning for RXO. Investors are likely interpreting the upgrade as a sign of potential outperformance in the near future, contributing to the stock's significant jump. As always, investors are advised to conduct their own research and consider multiple factors when making investment decisions.
Comments