03:40 PM EDT, 05/02/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Our 12-month target price of $87, raised $11, reflects a 21x multiple of projected '25 EPS, slightly above CHRW's historical forward average. We lift our '24 EPS estimate by $0.36 to $3.55 and '25's by $0.12 to $4.12. Q1 EPS of $0.86 vs. $0.98, beat the consensus view by $0.23. CHRW said it gained market share in Q1 in its Truckload business, and even though Truckload volumes fell 0.5% Y/Y (better than the broader index), CHRW was able to also eke out improved gross profit per truckload, which we think is a strong achievement. The geopolitical strife in the Middle East also led to some new wins for CHRW in its global forwarding business. Shares are up 14% today, which we think reflects some optimism over the sudden turnaround in gross profit metrics in March (+7% in March vs. -3% in February), but with shares now trading above historical forward average, we think a positive inflection point in the business is now priced in.