C.H. Robinson price target raised to $144 from $111 at Stifel

Stifel raised the firm’s price target on C.H. Robinson (CHRW) to $144 from $111 and keeps a Buy rating on the shares. Since last week, spot rates have moved higher despite “no discernible change in core freight demand,” says the analyst, who thinks investors should continue to expect muted demand with a sub-seasonal second half and soft peak season. Third-party logistics gross margins should temporarily compress, though certain companies, notably C.H. Robinson, with ongoing idiosyncratic productivity initiatives “should still produce extra-cyclical earnings growth,” the analyst added.