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Wunderlich Securities Reiterates Hold Rating, $64 PT on C.H. Robinson Worldwide on Estimage Changes

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In a report published Wednesday, Wunderlich Securities reiterated its Hold rating and $64.00 price target on C.H. Robinson Worldwide (NASDAQ: CHRW).

Wunderlich Securities noted, “C.H. Robinson (CHRW) reported 4Q12 results last night, and EPS of $0.68 came in light of the consensus of $0.70. Both gross and net revenue of $2.97 billion and $444.6 million, respectively, were ahead of Street expectations. This disconnect between top and bottom line was due to the contribution from recent deals, including two weeks from the divested T-Chek segment, two months from newly acquired Phoenix International, and a full quarter from Apreo Logistics. While these issues impacted revenue and EPS comparability, larger issues of margin compression and decelerating growth remain a major concern. Pending the communication of more clearly defined growth targets, we remain very comfortable with our Hold rating and $64 price target.”

C.H. Robinson Worldwide closed on Tuesday at $67.01.

Posted-In: Wunderlich SecuritiesAnalyst Color Reiteration Analyst Ratings

 

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