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UPDATE: Citigroup Raises PT on C.H. Robinson Worldwide on Slower Growth, Upside Risk

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In a report published Tuesday, Citigroup analyst Christian Wetherbee reiterated a Neutral rating on C.H. Robinson Worldwide (NASDAQ: CHRW), and raised the price target from $59.00 to $60.00.

In the report, Citigroup noted, “As we have previously noted, we believe that CH Robinson shares are likely to underperform our core transportation coverage due to a deceleration in long term earnings growth which is not fully reflected in its multiple, in our view. We believe this view has largely become consensus over the last several quarters and think the company's use of its balance sheet to boost EPS is/has been the biggest risk to share price upside. That said, we also note that by using its balance sheet more aggressively CH Robinson now appears to be acknowledging this deceleration and it may result in a faster multiple re-rating, limiting the long term benefit to share price from these moves.”

C.H. Robinson Worldwide closed on Monday at $58.83.

Latest Ratings for CHRW

DateFirmActionFromTo
Sep 2014BarclaysInitiates Coverage onEqual-weight
Sep 2014Stifel NicolausDowngradesHoldSell
Jul 2014Edward JonesUpgradesSellHold

View More Analyst Ratings for CHRW
View the Latest Analyst Ratings

Posted-In: Christian Wetherbee CitigroupAnalyst Color Price Target Analyst Ratings

 

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