BofA raised the firm’s price target on C.H. Robinson to $76 from $68 and keeps an Underperform rating on the shares. The firm increased FY24 and FY25 EPS estimates 27% and 8%, respectively, and notes that its target multiple moves toward the midpoint of its 20-year range as earnings move past trough this year. However, while the shares may squeeze up on results, the firm thinks the company should still face pressure as spot rates rise in a truck market recovery.
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