BUZZ-BMO lowers target price for C.H. Robinson, remains cautious on RXO trades

October 16 - ** BMO has lowered the target price for freight forwarding company C.H.Robinson Worldwide (CHRW.O) from $190 to $160, and reaffirmed the “Market Perform” rating

** The new target price is still 11.3% higher than the previous trading day's closing price

** The brokerage stated that CHRW’s acquisition of RXO (link) is “strategically highly attractive and financially feasible”, which will help the company expand its freight brokerage business

** However, the institution cautioned that value creation will depend on whether RXO’s freight volume can be retained, productivity can be improved, and integration and brokerage responsibility risks can be effectively managed

** Among target prices given by 24 brokerages covering the stock, the median is $200 — according to data compiled by LSEG

** As of the previous trading day's close, the stock has declined approximately 11% year to date

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