As previously reported, BofA analyst Ken Hoexter downgraded C.H. Robinson to Neutral from Buy with a price target of $95, down from $104, after the board terminated Bob Biesterfeld as CEO. The move likely suggests an acceleration of strategic initiatives and the leadership transition, concurrent with ramping competition in the the truck brokerage industry and a decelerating freight backdrop, "may cause discord," Hoexter said.
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