From Financial Modeling Prep: 2024-10-14 12:35:00

TD Cowen analysts have downgraded Expeditors International (NYSE:EXPD) to Sell from Hold, with a revised price target of $106 from $112. They cited a weakening outlook due to fading temporary boosts from factors like port strikes and Red Sea congestion adjustments. The analysts believe a return to pre-COVID margin levels is more realistic for EXPD’s earnings potential.

Market optimism for sea-air conversions and air cargo space tightening has decreased, impacting EXPD’s recent stock performance. Analysts view the consensus forecast for 3% EBIT growth in 2025 as overly optimistic, projecting flat year-over-year growth instead.



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