Monty Rakusen Summary Following my coverage on RXO, Inc. (NYSE:RXO) in Dec'23, which I reiterated a hold rating as I was worried about the pricing headwinds despite positive indicators for a volume recovery, this post is to provide an update on my thoughts on the business and stock. I am upgrading my recommendation from hold to buy as I see greater visibility to a recovery in the coming years, with expectations that RXO can accelerate growth to 20% in FY26 and EBITDA margins to hit 6%. Investment thesis On ...