RXO INC (RXO) stock surged 5.29% during Tuesday's trading session, 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 future performance.
The upgrade appears to have sparked renewed investor interest in RXO, driving the stock's substantial intraday gains. This positive movement comes as a welcome development for RXO shareholders, as the stock had been trading below its average price target of $15.56 prior to the upgrade.
While Morgan Stanley's upgrade has clearly had a positive impact on RXO's stock price, it's worth noting that the overall analyst consensus remains a "hold" according to FactSet data. Investors will likely be watching closely to see if other analysts follow suit in the coming days, potentially providing further momentum for the stock.
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