Barclays analyst Brandon Oglenski lowered the firm’s price target on C.H. Robinson to $80 from $85 and keeps an Equal Weight rating on the shares post the Q4 report. The miss to consensus was driven by costs at the higher end of prior guidance as well as a still tepid brokerage market exacerbated by increased spot exposure, the analyst tells investors in a research note. The firm says the company’s 2024 cost guidance appears above expectations as well, offsetting potential near-term forwarding gains from rising ocean rates.
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