C.H. Robinson price target lowered to $70 from $80 at Wells Fargo

Wells Fargo lowered the firm’s price target on C.H. Robinson to $70 from $80 and keeps an Underweight rating on the shares. The firm notes the Q4 miss and persistent freight headwinds likely drive shares lower. Productivity efforts support earnings base longer term. Near term, with a challenged freight environment, focus remains cost structure alignment and growing the digital offering, says Wells.