C.H. Robinson upgraded to Neutral at Susquehanna following pullback

Susquehanna upgraded C.H. Robinson to Neutral from Negative with a price target of $80, up from $72. The firm feels “good” about transport demand into 2024, both domestically within truckload and in international trade, but thinks there’s too much 2024 estimate risk from pricing to be constructive on truckload-related shares today, the analyst tells investors. However, for C.H. Robinson the firm contends that the cyclical negative thesis has “largely played out,” with shares down 8% since August.