August 27, 2013 at 16:20 PM EDT
Citigroup Bumps Price Target for C.H. Robinson Worldwide (CHRW)

Citigroup announced on Tuesday that it is maintaining its “Neutral” rating on the Minnesota-based logistics company, C.H. Robinson Worldwide (CHRW), but went onto raise its price target for the company.

Christian Wetherbee, an analyst with the firm, said “As we have previously noted, we believe that CH Robinson shares are likely to underperform our core transportation coverage due to a deceleration in long term earnings growth which is not fully reflected in its multiple, in our view. We believe this view has largely become consensus over the last several quarters and think the company’s use of its balance sheet to boost EPS is/has been the biggest risk to share price upside.” With that said, the analyst maintained a “Neutral” rating and raised the PT just barely from $59 to $60.

C.H. Robinson Worldwide shares traded lower on Tuesday, shedding $1.22, or 2.12%, on the day. The stock is down 6.86% YTD.

The Bottom Line

Shares of C.H. Robinson Worldwide (CHRW) are yielding 2.43% based on Tuesday’s closing price of $57.61.

C.H. Robinson Worldwide (CHRW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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