Barclays Initiates Coverage on C.H. Robinson Worldwide Inc.

Analysts at Barclays Initiated Coverage on C.H. Robinson Worldwide Inc. CHRW with an Equal-weight rating and $70 price target Wednesday.

Brandon Oglenski sees downside in shares of C.H. Robinson because the recent transformation in business intelligence to broader and faster dissemination of information has left the company in the “lurch.” Consequently, Oglenski favors asset based carriers over brokers.

Analysts see long term risk in shares of C.H Robinson and Expeditors, however, analysts state that “North American trucking expansion keeps us a bit more favorable on prospects for CHRW shares, driving our Equal Weight rating.”

Shares of C.H. Robinson Closed Tuesday’s session at $66.91.