Deutsche Bank Upgrades CHRW To Buy

Deutsche Bank has issued a report upgrading C.H. Robinson Worldwide CHRW to a Buy Rating. According to the report, “We believe the market is missing the strength of CHRW's business model and how its business model reacts to a tightening of TL capacity, rising fuel prices, and increasing TL rates. Shares of CHRW are now trading at a 1.5% discount to its 10-year average P/E multiple (26.9x) and we see EPS growth accelerating in 2011-12E as the company should benefit from rising volumes as shippers increasingly leverages CHRW's brokerage network as the large asset-based transportation capacity is now limited.” CHRW has an $86 Price Target and closed at $75.39 a share yesterday.