BofA lifts Expeditors International PT on rising rates

Expeditors International of Washington

12/06/2024 18:38

** BofA lifts PT of logistics firm Expeditors International
of Washington  EXPD.N  to $131 from $126
    ** The new PT represents a 5% upside to the stock's last
close
    ** Brokerage says CEO Jeff Musser notes continued rise in
air cargo and ocean market on tightened supply-demand balance in
both markets, along with significant air growth in North Asia
    ** "Musser noted that global forwarding trends remain
unpredictable due to Red Sea freight diversions, Panama Canal
constraints, congestion in South Asian ports, the U.S.
presidential election, and the health of the consumer" - BofA
    ** Eleven brokerages rate the stock "hold", six "sell";
their median PT is $112.00 - LSEG data
    ** Stock had fallen 1.7% YTD

 (Reporting by Aatreyee Dasgupta)
 ((Aatreyee.Dasgupta@thomsonreuters.com))