Loading...
Loading...
In a note released earlier today, Credit Suisse analyst, Allison Landry downgraded shares of Expeditors International from Neutral to Underperform and lowered the price target from $43 to $41.
Landry commented, "We believe that a combination of structural and cyclical headwinds will crimp earnings growth at EXPD for the foreseeable future."
Landry's investment thesis is based on four main points:
- Chronic oversupply in international air and ocean markets
- A predicted slowdown in global trade
- Inconsistent operating leverage
- Optimistic share pricing Looking at the company's performance in the third quarter, Landry says the solid performance is likely temporary. Moreover, she says Expeditors will likely face difficult comps in the near-term.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
