Bernstein analyst David Vernon lowered the firm’s price target on C.H. Robinson to $92 from $110 and keeps a Market Perform rating on the shares following quarterly results. The company is working hard to remove cost, but "burning off empty COVID calories" is going to take time and until the counter-cyclical comfort investors look for in asset-light business models is unlikely to be found at C.H. Robinson, the firm says.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on CHRW:
- C.H. Robinson sees 2023 capital expenditures $90M-$100M
- C.H. Robinson reports Q4 adjusted EPS $1.03, consensus $1.38
- CH Robinson Worldwide options imply 6.1% move in share price post-earnings
- Notable companies reporting after market close
- Schneider, Werner upgraded to Buy, XPO Logistics downgraded at BofA
