On Friday, BMO Capital adjusted its price target on C.H. Robinson Worldwide (NASDAQ:CHRW) shares, increasing it to $85 from the previous $80, while keeping a Market Perform rating on the stock.
The adjustment follows the company's first-quarter results, which surpassed expectations, particularly due to a stronger performance in its North American Surface Transportation (NAST) segment.
The logistics company's recent earnings release demonstrated a robust quarter, leading BMO Capital to revise its earnings per share (EPS) forecasts upward. The firm noted that C.H. Robinson is on a solid path to achieve its stated cost and productivity goals.
The reiteration of the company's guidance suggests a steady outlook, with C.H. Robinson expected to continue meeting its financial targets. This outlook has contributed to the decision by BMO Capital to raise the stock's price target.
The increase in the price target to $85 reflects a positive view of the company's ability to maintain its financial health and operational efficiency. The Market Perform rating indicates that the stock is anticipated to perform in line with the market or sector average according to the firm's analysis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.