Amazon (AMZN) is developing an app that will connect truck drivers and shippers, Business Insider reported yesterday. Two research firms - Cowen and Buckingham - downplayed the risk that Amazon's app will pose to large trucking brokers, such as C.H. Robinson (CHRW), J.B. Hunt (JBHT), Echo Global (ECHO) and Expeditors (EXPD).

REPORTED AMAZON APP: Expected to launch in summer 2017, Amazon's app is supposed to facilitate connections between truckers and shippers, Business Insider reported. The app will connect truckers and shippers in much the same way that Uber connects drivers and riders, the website explained.

ANALYST REACTION: Amazon's app will probably pose a "very limited" risk to large trucking brokers C.H. Robinson and J.B. Hunt, according to Cowen analyst Jason Seidl. C.H. Robinson's business has become quite diversified due to a series of acquisitions the company has made in recent years, and its biggest customer accounts for only 2% of its consolidated net revenue, Seidl reported. J.B. Hunt's third party logistics/brokerage business accounts for only 5% of its earnings before interest and taxes, the analyst stated. The risk to Echo Global is also probably "very limited," added Seidl. The analyst kept Outperform ratings on JB Hunt and Echo and a Market Perform rating on C.H. Robinson. After adding a great deal of functionality to its trucking brokerage app this year, C.H. Robinson has seen the number of interactions with the app increase 20% this year to 6M, reported Buckingham analyst Ryan Mueller. The popularity of the app will prevent Amazon from posing a major threat to it, the analyst contended. Moreover, Mueller's trucking industry contacts have said that C.H. Robinson's app is "second to none," the analyst reported. Finally, the company's superior data should enhance its app, he believes. Mueller kept an $85 price target and a Buy rating on C.H. Robinson.

PRICE ACTION: In morning trading, C.H. Robinson fell 1.5% to $73.19, Echo dropped 3.4% to $27, Expeditors and J.B. Hunt slid 0.6% apiece and XPO Logistics (XPO) declined by 3% to $46.26.