UPDATE: Goldman Sachs Group Reiterates Neutral Rating, Raises PT on C.H. Robinson Worldwide

Loading...
Loading...
In a report published Friday, Goldman Sachs Group reiterated its Neutral rating on C.H. Robinson Worldwide
CHRW
, and raised its price target from $66.00 to $68.00. Goldman Sachs noted, “We raise our earnings estimates for Neutral rated CHRW after our recent discussion with management following the completion of its acquisition of freight forwarder, Phoenix International. We raise our 4Q EPS by a penny to $0.70 and increase our EPS estimates for 2013-2014E by about 4%, net of the increased share count. Our key conclusion is that the $635mn deal looks EPS accretive, while the implied valuation multiple for the deal looks neutral at roughly12.5x EV/EBITDA, in line with CHRW's current valuation.” C.H. Robinson Worldwide closed on Thursday at $61.97.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsGoldman Sachs Group
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...