As previously reported, Susquehanna analyst Bascome Majors downgraded C.H. Robinson (CHRW) to Negative from Neutral with a price target of $77, down from $88. Truck brokers “face a difficult cyclical path into 2024,” says the firm, which adds that it sees the truckload brokerage model as “the most challenged in transports.” The firm is cutting its second half and 2024 brokerage forecasts, with “the most severe downside” seen for contractually levered C.H. Robinson and RXO (RXO), the analyst tells investors.
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Read More on CHRW:
- C.H. Robinson downgraded to Negative from Neutral at Susquehanna
- C.H. Robinson price target lowered to $102 from $105 at Loop Capital
- C.H. Robinson price target raised to $90 from $85 at BMO Capital
- C.H. Robinson price target raised to $98 from $94 at Citi
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