BofA lowered the firm’s price target on C.H. Robinson to $70 from $81 and keeps an Underperform rating on the shares after the company posted adjusted EPS that was down 51% year-year and below both the firm’s target and Street’s forecast. Additionally, with internal cost creep, C.H. Robinson posted its “worst net operating margin in our 25-year model” and 22 years of research coverage, the analyst tells investors. Following the results, the firm lowered its 2024 and 2025 EPS estimates 33% and 24%, to $2.80 and $3.75, respectively.
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