JP Morgan Maintains Underweight on C.H. Robinson Worldwide, Raises Price Target to $76
Portfolio Pulse from Benzinga Newsdesk
JP Morgan analyst Brian Ossenbeck has maintained an Underweight rating on C.H. Robinson Worldwide (CHRW) but raised the price target from $70 to $76.
May 02, 2024 | 3:32 pm
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JP Morgan analyst Brian Ossenbeck maintains an Underweight rating on C.H. Robinson Worldwide but raises the price target from $70 to $76.
The maintenance of an Underweight rating suggests a cautious stance on CHRW's stock by JP Morgan, indicating potential underperformance relative to the market or sector. However, the increase in the price target from $70 to $76 reflects a slightly more optimistic view on the company's valuation or future performance prospects. This mixed signal could lead to neutral short-term price movement as investors digest both the continued caution and the increased price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100