UBS Downgrades Expeditors Int'l (EXPD) to Sell

UBS downgraded Expeditors Int'l (NASDAQ: EXPD) from Neutral to Sell with a price target of $42.50 (from $52.00), citing tough comps and high P/E.

Analyst Thomas Wadewitz commented, "EXPD was a standout performer in 2015 shown by ~26% EPS growth (including our 4Q estimate) and it was the only transport stock in our coverage universe that was up. In 2016 we expect a sharp deceleration in EPS growth to ~2% which is likely to put pressure on EXPD's strong P/E valuation which is currently the second highest among the transport group at 17.7x. We are lowering our rating on EXPD to Sell from Neutral."

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 $43.64 yesterday.

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