Jefferies Raises PT On CHRW To $90

Jefferies has raised its price target on C.H. Robinson Worldwide

from $86 to $90 based upon an in-line 1Q. Says Jefferies, in the report, “CHRW reported an essentially in-line 1Q,with consolidated gross yields turning positive YoY. We have raised our estimates and price target modestly, but await a better entry point… In most operating environments, CHRW is a model of consistency, knocking out relatively uneventful, 15% type growth quarters. This consistency of earnings, in our view, tightens the need to remain disciplined on picking entry points as the likelihood of step-change upward earnings revisions tend to be muted. At 26.6x forward estimates currently, we don't see the stock as actionable either way right now and await a better entry point.” Jefferies maintains its Hold rating on the stock. CHRW closed at $79.24 yesterday.