UPDATE: J.P. Morgan Lowers Expeditors PT, On Sidelines

J.P. Morgan lowered its Expeditors

price target from $47 to $42 in a research report published today following the company's 1Q12 earnings announcement. In the report, J.P. Morgan stated, "In its comments EXPD did not offer any optimism and instead indicated that it is moving to reduce costs. We have lowered our EPS estimates again, and we remain on the sidelines. At the present time we do not see nearterm catalyst for EXPD stock." Shares of Expeditors closed Wednesday at $40.74, up 0.30% from Tuesday's market close.