BMO starts RXO at outperform with $35 target, citing tighter truckload market

According to CNBC, BMO Capital Markets initiated coverage of RXO at outperform and set a $35 price target, implying 29% upside from Monday’s close, as it expects a tightening truckload market to lift the transportation and technology firm’s earnings. Analyst Fadi Chamoun said RXO’s truckload brokerage volumes are up about 80% this year and productivity has improved roughly 40% on a two-year stack, and he expects the company to reach about $600 million in peak adjusted EBITDA by the end of 2028, more than double the $292 million consensus forecast. RXO is slated to report second-quarter earnings in early August, and shares have risen 114% in 2026; LSEG data shows 11 of 18 analysts rate the stock hold.