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Oppenheimer Initiates Coverage of C.H. Robinson Worldwide

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In a report published earlier today, Oppenheimer Holdings initiated coverage of C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW) with a Perform rating, but did not name a price target.

Oppenheimer went on to say “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. However, facing tough 1H12 y/y net revenue growth comparisons, and anticipating net revenue growth remaining in the single digits and notably below gross revenue growth in 2Q12, we don't anticipate the market bolstering its trading multiple ahead of 2Q12 results.”

C.H. Robinson Worldwide, Inc. closed yesterday at $60.67.

Latest Ratings for CHRW

DateFirmActionFromTo
Feb 2015UBSInitiates Coverage onNeutral
Feb 2015BB&T CapitalDowngradesBuyHold
Jan 2015Deutsche BankMaintainsHold

View More Analyst Ratings for CHRW
View the Latest Analyst Ratings

Posted-In: Oppenheimer HoldingsAnalyst Color Initiation Analyst Ratings

 

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