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Fly News Breaks for July 11, 2016
CHRW
Jul 11, 2016 | 06:22 EDT
UBS analyst Thomas Wadewitz downgraded C.H. Robinson Worldwide to Sell saying Q2 is likely the start of a more difficult phase in the truckload cycle where contract TL rates are falling. Broker checks indicate June was difficult and that gross margin peaked in Q1, Wadewitz tells investors in a research note. He cut his price target for C.H. Robinson shares to $65 from $72. JPMorgan this morning initiated the shares with an Underweight rating.
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