Fly News Breaks for January 30, 2020
Jan 30, 2020 | 09:22 EDT
Susquehanna analyst Bascome Majors downgraded C.H. Robinson to Neutral from Positive with a price target of $82, down from $95. The analyst reduced C.H. Robinson's estimates following the company's weaker than expected Q4 results to reflect the "sober assessment" of rising operating costs and falling margins. The magnitude of the cost upside makes ~$4.00 in earnings per share power a 2021 goal, "not a 2020 floor, even if the freight market tightens this year," Majors tells investors in a research note, reversing his upgrade to Positive on January 15.
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