C.H. Robinson Upgraded to “Buy” at Deutsche Bank

By
A A A
Share |

Deutsche Bank analysts gave an upgrade to logistics company C.H. Robinson Worldwide, Inc. ( CHRW ) on Friday.

The analysts boosted the rating for CHRW from "Hold" to "Buy" with a price target of $72.00. That price target suggests up to a 17.1% upside to Friday's closing price of $61.48.

Deutsche Bank commented, "We are reinstating coverage of CHRW with a Buy-rating following the completion of its acquisition of Phoenix International, a freight forwarder that generated more than $807 million in gross revenue and $161 million in net revenue for the fiscal year ended June 30, 2012. CHRW purchased the company for $571.5 million in cash and roughly $63.5 million in newly-issued CHRW shares on November 1, 2012. We believe the acquisition will reinvigorate CHRW's top- and bottom-line growth rates and net revenue margins driving P/E multiple expansion. Net revenue margin contraction abated in Q3 2012 and should be a tailwind in 2013-14. BUY."

C.H. Robinson shares were flat in premarket trading. The stock is down $8.30, or -11.89%, year to date.

The Bottom Line
Shares of C.H. Robinson Worldwide ( CHRW ) have a 2.15% dividend yield, based on Friday's closing stock price of $61.48. The stock has technical support in the $56-$57 price area. If the shares can firm up, we see overhead resistance around the $65-$66 price levels.

C.H. Robinson Worldwide, Inc. ( CHRW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: CHRW

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

Most Active by Volume

88,363,013
  • $102.47 ▲ 2.72%
76,664,591
  • $16.60 ▲ 2.09%
75,156,840
  • $13.20 ▼ 5.71%
53,255,668
  • $40.68 ▼ 6.03%
49,564,657
  • $96.87 ▲ 2.63%
42,649,404
  • $9.26 ▲ 1.09%
37,436,329
  • $31.19 ▲ 5.05%
35,538,826
  • $28.28 ▲ 1.25%
As of 10/21/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com