Barclays Initiates Coverage On Expeditors International of Washington

Analysts at Barclays initiated coverage on Expeditors International of Washington EXPD with an Underweight rating and $38 price target Wednesday.

Brandon Oglenski stated,”Seemingly constant pressure on Expeditors has led many to ponder whether these platforms will ever return to prior segment leading growth...within our broadening universe we still favor the tried and true asset-based railroads over the lingering concerns for the brokers.”

Analysts note that Expeditors expected release of their strategic review could favorably impact shareholders given a better than expected cash balance.

Shares of Expeditors closed the Tuesday session at $41.96 unchanged