Market Overview

UPDATE: Goldman Sachs Upgrades Expeditors International of Washington to Buy, Raises PT

Related EXPD
Morgan Stanley Upgrades Expeditors International of Washington Just In Case The Cycle Call Works
Benzinga's Top Upgrades

In a report published Friday, Goldman Sachs Group upgraded its rating on Expeditors International of Washington (NASDAQ: EXPD) from Sell to Conviction List Buy, and raised its price target from $34.00 to $42.00.

Goldman Sachs noted, “We upgrade EXPD stock to Buy from Sell and add it to our Conviction List while raising our EPS forecasts for 4Q12 and 2013 on better-than-expected airfreight and shipping volumes. Global trade flows appear to be bottoming, as demonstrated by HACTL and Chinese port throughput where growth rates have accelerated, up 6.3% and 9.3% yoy. We expect EPS to rebound in 2013E after a mid-cycle correction in 2012E. Since addition to the Sell list on July 12, 2012, the stock has underperformed our coverage universe and the S&P 500 by 2.9% and 11.1%. The stock underperformed the S&P 500 by 38% over the past 12 months.”

Expeditors International of Washington closed on Thursday at $35.78.

Latest Ratings for EXPD

Feb 2015Morgan StanleyUpgradesUnderperformEqual-weight
Jan 2015BarclaysMaintainsUnderweight
Dec 2014NomuraInitiates Coverage onNeutral

View More Analyst Ratings for EXPD
View the Latest Analyst Ratings

Posted-In: Goldman Sachs GroupAnalyst Color Upgrades Analyst Ratings


Related Articles (EXPD)

Around the Web, We're Loving...