UPDATE: Credit Suisse Upgrades Expeditors International of Washington to Outperform on Macro Outlook
Credit Suisse upgraded Expeditors International of Washington (NASDAQ: EXPD) from Neutral to Outperform and raised the price target from $42.00 to $50.00.
Credit Suisse said, "According to our chief economist and global strategy team, 2013 looks poised to be a better year than 2012. It is the CS view that Industrial Production momentum will reaccelerate early in the year and that global trade will once again grow at a multiple of global GDP (historically about 1.3 times). As a global forwarder, both of these market dynamics should bode well for the stock."
Expeditors International of Washington closed at $42.72 on Thursday.
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Tags: Credit Suisse