Expeditors Int'l (EXPD) PT Raised to $128 at Stifel

November 12, 2021 5:54 AM EST
Get Alerts EXPD Hot Sheet
Price: $89.36 -1.42%

Rating Summary:
    3 Buy, 17 Hold, 6 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 9 | New: 24
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Stifel analyst J. Bruce Chan raised the price target on Expeditors Int'l (NASDAQ: EXPD) to $128.00 (from $109.00) while maintaining a Hold rating.

The analyst commented, "In a market that continues to breach new levels of supply constraint, supply chain disruption, and pricing strength, Expeditors continues to do what it does best, in our view: apply strong processes and a highly-experienced, long-tenured workforce to drive leverage in its variable cost model. The volume and pricing environment for forwarders has been surprisingly robust in 2H21, and we think there's a good chance these conditions persist deep into 2022. In its most recent results, Expeditors reported EPS of $2.09, comfortably exceeding our $1.68 and the Street's $1.79 expectation. We have adjusted our top-line assumptions to reflect the favorable results, though we are keeping an eye on volume deceleration and margins at other best-in-class providers that have been growing even faster than those at Expeditors. With its scale and operational excellence, Expeditors should continue to benefit from the current market, but we think current valuation is fair."

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