Jefferies Upgrades Expeditors Int'l (EXPD) to Buy
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Price: $38.48 -1.31%
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
9 Buy, 7 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade EXPD Now!
Jefferies upgraded Expeditors Int'l (NASDAQ: EXPD) from Neutral to Buy with a price target of $53 (up from $45).
The firm comments, "We upgraded EXPD to Buy with 25% potential upside. Asian airfreight demand is the primary driver of EXPD's gross revenue, EPS, and valuation. Such demand appears to be nearing a bottom after an 18-month slide, which we believe drove 25pp of underperformance in 2011. Valuation has only been this low immediately after 9/11 and at the height of the post-Lehman financial crisis."
The firm maintained FY12 EPS at $1.83 and lifted FY13 EPS from $1.95 to $2.04.
For an analyst ratings summary and ratings history on Expeditors Int'l click here. For more ratings news on Expeditors Int'l click here.
Shares of Expeditors Int'l closed at $42.48 yesterday, with a 52 week range of $38.25-$55.30.
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The firm comments, "We upgraded EXPD to Buy with 25% potential upside. Asian airfreight demand is the primary driver of EXPD's gross revenue, EPS, and valuation. Such demand appears to be nearing a bottom after an 18-month slide, which we believe drove 25pp of underperformance in 2011. Valuation has only been this low immediately after 9/11 and at the height of the post-Lehman financial crisis."
The firm maintained FY12 EPS at $1.83 and lifted FY13 EPS from $1.95 to $2.04.
For an analyst ratings summary and ratings history on Expeditors Int'l click here. For more ratings news on Expeditors Int'l click here.
Shares of Expeditors Int'l closed at $42.48 yesterday, with a 52 week range of $38.25-$55.30.
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