Investment banking firms such as UBS and Evercore ISI have upgraded their ratings for global logistics company, C.H. Robinson Worldwide (CHRW), raising its price target to $122.00. On a positive note, the firm's shares have been outperforming their sector despite a decline in earnings. In addition, CHRW reached a new 12-month high of $109.42 and their stocks soared as a result of cost controls lifting the company's earnings. This has led the management to increase its quarterly cash dividend and projections indicate that CHRW's intrinsic value is potentially 47% above its share price. However, doubts surfaced as Q2 revenue estimates were missed. Yet, the share price continued to rise, almost 11.2%. CHRW is also facing criticism for reportedly using an excess of debt. After a successful Q1 in 2024, challenges persist amidst strategic adjustments; nonetheless, its quarterly results have beaten the estimates. Furthermore, it has reached a strategic agreement to sell its European Surface Transportation Business to Sennder Technologies GmbH.
CH Robinson Worldwide CHRW News Analytics from Thu, 01 Feb 2024 08:00:00 GMT to Sat, 05 Oct 2024 08:31:32 GMT - Rating 7 - Innovation 3 - Information 7 - Rumor -1
