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UPDATE: Sterne Agee Initiates Expeditors International of Washington at Buy

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Sterne Agee initiated Expeditors International of Washington (NASDAQ: EXPD) with a Buy rating and a $53 price target on data pointing to possible turnaround in transoceanic shipping.

Sterne Agee commented, "The weakness in Global Trade has weighed on the shares of international forwarding companies over the past year, but we are picking up datapoints that the slowdown in the Asia-to-U.S. trade lane may be turning, and we believe the shares are attractively valued with strong cash flows and a debt-free balance sheet. This is also an interesting equity to own if the world is slower than we expect it to be."

Expeditors International of Washington closed at $35.00 on Monday.

Latest Ratings for EXPD

DateFirmActionFromTo
Oct 2014BarclaysMaintainsUnderweight
Sep 2014BarclaysInitiates Coverage onUnderweight
Aug 2014Credit SuisseDowngradesOutperformNeutral

View More Analyst Ratings for EXPD
View the Latest Analyst Ratings

Posted-In: Sterne AgeeAnalyst Color Initiation Intraday Update Analyst Ratings

 

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