C.H. Robinson price target lowered to $85 from $90 at BMO Capital

BMO Capital lowered the firm’s price target on C.H. Robinson to $85 from $90 and keeps a Market Perform rating on the shares. The company’s Q4 results fell below expectations amid higher personnel expense, and while the management is making progress on the productivity front, a longer than typical cyclical slowdown and lower contracted rates in NAST will likely pressure the outlook through much of FY24, the analyst tells investors in a research note.