Goldman Sachs Upgrades Expeditors Int'l (EXPD) to Conviction Buy
Tweet
Share
E-mailGet Alerts EXPD Hot Sheet
Price: $187.81 +0.76%
Rating Summary:
8 Buy, 18 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
8 Buy, 18 Hold, 6 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Goldman Sachs upgraded Expeditors Int'l (NASDAQ: EXPD) all the way from Sell to Conviction Buy with a price target of $42.00 (from $34.00).
"Global trade flows appear to be bottoming, as demonstrated by HACTL and Chinese port throughput where growth rates have accelerated, up 6.3% and 9.3% yoy," the firm commented. "We expect EPS to rebound in 2013E after a mid-cycle correction in 2012E."
Commenting on catalysts, the firm expects: 1. consensus earnings upgrades over the next 3-6 months in view of improving global trade flows; 2. Low inventory to retail sales suggests re-stocking over the next 3-6 months; 3. The US housing recovery bodes well for Asian exports, sustaining Transpacific trade growth in 2013; 4. Potential for greater-than-expected dividends and/or share buybacks.
Goldman raised FY13 EPS from $1.97 to $1.99 and FY14 from $2.31 to $2.33.
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 $35.78 yesterday.
"Global trade flows appear to be bottoming, as demonstrated by HACTL and Chinese port throughput where growth rates have accelerated, up 6.3% and 9.3% yoy," the firm commented. "We expect EPS to rebound in 2013E after a mid-cycle correction in 2012E."
Commenting on catalysts, the firm expects: 1. consensus earnings upgrades over the next 3-6 months in view of improving global trade flows; 2. Low inventory to retail sales suggests re-stocking over the next 3-6 months; 3. The US housing recovery bodes well for Asian exports, sustaining Transpacific trade growth in 2013; 4. Potential for greater-than-expected dividends and/or share buybacks.
Goldman raised FY13 EPS from $1.97 to $1.99 and FY14 from $2.31 to $2.33.
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 $35.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Piper Sandler Reiterates Overweight Rating on Patterson-UTI Energy (PTEN)
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, Hot Upgrades, UpgradesRelated Entities
Goldman Sachs Conviction Buy List, Goldman Sachs, Dividend, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
