UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on CH Robinson Worldwide
In a report published Wednesday, Jefferies & Company reiterated its Hold rating on CH Robinson Worldwide (NASDAQ: CHRW), and raised its price target from $60.00 to $66.00.
Jefferies noted, “CHRW reported 3Q EPS that was a little light vs. buyside expectations that had been creeping higher in recent weeks. Gross yields improved sequentially (15.0% in 3Q vs. 14.4% in 2Q), although we think this was broadly anticipated following 3Q reports out of the TL carriers. Overall, the report was good but we saw little to attract the incremental buyer. Raise PT to $66 (from $60), but reiterate Hold.”
CH Robinson Worldwide closed on Tuesday at $60.98.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.