C.H. Robinson downgraded to Market Perform from Strong Buy at Raymond James Raymond James downgraded C.H. Robinson citing valuation, margin pressures, and lack of catalysts. Note BofA/Merrill downgraded shares also this morning.
C.H. Robinson upgraded to Outperform from Peer Perform at Wolfe Research Wolfe Research upgraded C.H. Robinson to Outperform with a $74 price target following management meetings. The firm is incrementally more positive on near to medium term earnings and believes the company can outperform other transport stocks. The firm said C.H. Robinson added a record number of new trucking carriers in Q2 and expects strong gross yield expansion and net revenue growth in Q3.
On The Fly: Analyst Initiation Summary Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.