C.H. Robinson price target lowered to $90 from $95 at BMO Capital

BMO Capital analyst Fadi Chamoun lowered the firm’s price target on C.H. Robinson to $90 from $95 and keeps a Market Perform rating on the shares. The analyst notes that North American freight markets have continued to soften through Q4, with rates normalizing faster than anticipated in both ocean and air. Chamoun further states that the truckload market buy-sell spreads peaked around Q2 of 2022 and are expected to come under pressure over the coming year as contract rates further moderate.