CHRW - C.H. Robinson Navigates Turbulent Freight Environment: Analyst Slashes Price Target On Delayed Recovery Predictions | Benzinga
Benchmark analyst Christopher Kuhn reiterated a Buy rating on C.H. Robinson Worldwide, Inc. (NASDAQ: CHRW), lowering the price target to $100 from $108 given a recovery in the freight market will likely be pushed out to 2024.
The analyst cautioned that CHRW is operating in a very challenging freight environment, which will likely delay the company's margin improvement goals after volume demand returns.
Continued low load-to-truck ratios, low routing guide depth, and a continued push out of a recovery in CHRW forecasted van cost per mile would limit opportunities for price increases in the short term, Kuhn adds.
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