High Alpha Contrarian Play in Expeditors International (EXPD)
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Jefferies analysts updated their price target on Expeditors International (EXPD), lowering it by $5 to $49 from $54. But they reiterated their BUY rating on the stock, noting that it was a contrarian play given recent performance.
Expeditors International Inc. provides logistics services in the United States and internationally. EXPD has traded lower since reporting earnings. According to Jefferies, the details of its earnings report suggested a yield squeeze rather than market share losses for the logistics company.
In a company note, a Jefferies analyst stated, “EXPD will likely remain volatile near term as the airfreight cycle searches for a bottom. But if/when the gradual bottoming of Asian airfreight fundamentals carries over to the EPS and P/E of EXPD, we think there’s sizable outperformance ahead.”
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 $40.74 yesterday.
Expeditors International Inc. provides logistics services in the United States and internationally. EXPD has traded lower since reporting earnings. According to Jefferies, the details of its earnings report suggested a yield squeeze rather than market share losses for the logistics company.
In a company note, a Jefferies analyst stated, “EXPD will likely remain volatile near term as the airfreight cycle searches for a bottom. But if/when the gradual bottoming of Asian airfreight fundamentals carries over to the EPS and P/E of EXPD, we think there’s sizable outperformance ahead.”
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 $40.74 yesterday.
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