The stock rose 1.28% to $87.73 during midday trading. The stock had lost 8.84% in value in the last 12 months.
The research firm said that it was raising its EPS expectations from $3.24 to $3.54 for 2024 and from $4.10 to $4.60 for 2025.
Vertical also raised its price target for the company to $102 from $88, citing that the raise is based on its 2025 EPS. The research firm also added CHRW pays an attractive 2.8% dividend yield.
The brokerage added that the company had longer-term earnings potential in the $6 range remains, which could drive the longer-term valuation to $120 or higher.
Vertical still believes that it is early in a turnaround story that is gaining traction at an overall attractive valuation level, although it is not catching the shares at their April bottom.
Looking at Seeking Alpha’s Quant Rating, the stock possesses a Hold rating, concurring with SA analysts and the Wall Street community.