UPDATE: Stifel Nicolaus Downgrades C.H. Robinson Worldwide to Sell on Valuation
Stifel Nicolaus downgraded C.H. Robinson Worldwide (NASDAQ: CHRW) from Hold to Sell.
Stifel Nicolaus commented, "We are downgrading the common shares of C.H. Robinson from Hold to Sell as they appear overvalued, in our view. … We believe that the company will continue to suffer from the law of large numbers and post unimpressive (<10% per year) year-over-year EPS growth versus the company's target EPS growth of 15% per year. We also believe that the company's truckload brokerage business has come under modest margin pressure in recent quarters as a result of the relative balance that has, of late, existed between supply and demand within the truckload sector."
C.H. Robinson Worldwide closed at $65.35 on Tuesday.
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