UPDATE: Sterne Agee Raises PT to $75 on C.H. Robinson Worldwide on Brokerage Improvement, Acquisitions

Sterne Agee reiterated its Buy rating on C.H. Robinson Worldwide CHRW and increased its price target from $66 to $75. Sterne Agee said, "Although CHRW posted a modestly better-than-expected 3Q, there are clear signs that the truck brokerage business is becoming more profitable, with two recent acquisitions, a divestiture, and a new approach to capital structure to drive EPS growth. We are changing our view of the EPS prospects and attractiveness of the shares, and applaud management for recognizing their dilemma and using their balance sheet to solve it." C.H. Robinson Worldwide closed at $60.98 on Tuesday.