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C.H. Robinson initiated with an Equal Weight at Wells Fargo

Wells Fargo initiated coverage of C.H. Robinson with an Equal Weight rating and $94 price target. The firm says we are not yet at the point in the cycle when you typically buy brokers as truckload spot rates have not inflected. However, the analyst senses “a real change on the cost side” at Robinson and also sees strength in Ocean. Wells is neutral “but biased positively.”

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