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.
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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
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