UPDATE: Wunderlich Securities Reiterates on C.H. Robinson Worldwide on Persistent Margin Pressure

In a report published Thursday, Wunderlich Securities analyst Chaz Jones reiterated a Hold rating on

, but lowered the price target from $64.00 to $58.00. In the report, Wunderlich Securities noted, “CH Robinson (CHRW) reported disappointing 4Q13 results last night, as EPS of $0.62 fell short of the Street's $0.68 forecast. The miss came on the back of weaker gross revenue generation and further net revenue margin compression. The ramp in freight activity late in 4Q13 caused PT to spike, and while this has been the case for many other capacity brokers, CHRW did not share peers' bullishness on overall market trajectory. With domestic operations still under pressure (and facing intense competition), focus has shifted to CHRW's international efforts. While the integration of Phoenix is progressing well, it does not appear to be a catalyst for earnings growth in FY14. As a result, we continue to believe that CHRW will underperform transportation peers, and reiterate our Hold rating.” C.H. Robinson Worldwide closed on Wednesday at $53.16.