C.H. Robinson downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Jordan Alliger downgraded C.H. Robinson to Neutral from Buy with a price target of $93, down from $102. The analyst sees a "more tempered" outlook in the brokerage sector through the next several quarters. As contractual selling prices are reset and converge closer to the drop in purchased transport costs over the next few quarters, C.H. Robinson’s net revenue margin expansion opportunity will flatten out, Alliger tells investors in a research note. The analyst believes a "more steady state environment" in conjunction with likely volume declines could lead to pressured net revenue growth.