SA: CH Robinson gains after Bank of America calls it a transport standout

SEEKING ALPHA reports:

– Bank of America hikes its rating on C.H. Robinson Worldwide (NASDAQ:CHRW) to Buy from Neutral on its view that margin and share gains continue to point to upside potential.

– Analyst Ken Hoexter notes CHRW recently posted its first widening of spreads since Q2 of 2019 and calls its global forwarding segment robust amid the tight supply market and sustained pricing environment…

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Well, after moving up in pre-market trade today, the stock fell 0.67% to $106.79 in early trade. As a reminder, Bank of America is a core CHRW lender – for more, please read our Premium coverage: “CH Robinson – done with creative cash creation. Now what?“.