UPDATE: Oppenheimer Initiates Coverage on C.H. Robinson Worldwide

According to a research report published this morning, Oppenheimer has initiated C.H. Robinson Worldwide

with a Perform rating. In the report, Oppenheimer said, "We are initiating coverage on C.H. Robinson Worldwide, the largest competitor in the third-party-logistics (3PL) freight brokerage industry, with a Perform rating. We're drawn to CHRW's leadership in an attractive industry, its solid growth and steady margin profile, and non-asset based, high ROIC business model. We view its market leadership as a distinct advantage, given its broad existing base of customers and capacity carriers (e.g., truckers) positioning it to garner incremental growth from both constituents." C.H. Robinson Worldwide closed yesterday at $60.67.