UPDATE: J.P. Morgan Lowers C.H. Robinson's PT

According to a research report published this morning, J.P. Morgan has lowered C.H. Robinson's

PT from $72 to $70. In the report, J.P. Morgan commented, "CHRW's 1Q12 EPS was in line with consensus but its net revenue growth in April of only 1% is significantly weaker than we expected. Visibility on stronger growth remains limited and we believe that it will be difficult for the stock to work until there are signs of stronger net revenue and EPS performance. We are lowering our EPS estimates and we anticipate pressure on the stock in response to the weaker than expected comments on April." J.P. Morgan maintains its Underweight rating on C.H. Robinson, which closed yesterday at $65.83.