Benchmark Initiates Coverage On This Logistics Provider With Hold Rating

  • Expeditors International of Washington Inc EXPD was initiated with a Hold rating by Benchmark analyst Christopher Kuhn.
  • The analyst calls the company a "high-quality freight forwarder" that has taken benefit of the strong growth in the freight forwarding market.
  • Kuhn expects Expeditors' revenue and operating margins to revert to normal levels as tight capacity in the air and ocean markets ultimately normalize, and models an EPS drop in 2023.
  • He thinks the current valuation adequately accounts for decreasing operating results in 2023.
  • Price Action: EXPD shares traded higher by 1.95% at $101.43 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorNewsInitiationAnalyst RatingsBriefs
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!