C.H. Robinson Worldwide (NASDAQ:CHRW) to Benefit from Bush Tax Cuts, QE2

Noting C.H. Robinson Worldwide (NASDAQ:CHRW) is a pure domestic play, UBS (NYSE:UBS) sees them benefiting from the extension of the Bush tax cuts as well as implementation of QE2 by the Federal Reserve.

UBS said, "Given the recent uptick in sentiment regarding the near-term outlook for the US domestic economy - driven in part by the Fed’s QE2 program and Congress’ extension of the Bush tax cuts - we are raising our price target on C.H. Robinson, which remains largely a US domestic play...UBS price targets are defined as a 12-month outlook and we roll forward every quarter; so we’re now basing our target multiple on 2012 EPS ($3.23) rather than Q4/11-Q3/12 EPS ($3.09). The net impact is obviously to take our target higher."

UBS maintains a "Buy' on C.H. Robinson Worldwide, which closed Monday at $81.51, up $1.32, or 1.65 percent. UBS boosted their price target on them from $78 to $89.