Stifel raises PTs for transport cos, sees recovery in freight volume

Expeditors International of Washington

10/01/2024 13:06

** Stifel raises PTs for transport and logistics companies,
says 2024 is more likely to see "transition to better days"
    ** Says freight volume to recover on consumer demand and
restocking; class 1 railroads are pivoting to growth mode
    ** Also sees reshoring activity picking up on supply chain
de-risking, regulatory efforts and relative cost advantages
    
 Company                                  New PT     Old PT
 FedEx Corp  FDX.N                        $305       $282
 United Parcel Service Inc  UPS.N         $190       $180
 XPO Inc  XPO.N                           $87        $77
 Old Dominion Freight Line Inc  ODFL.O    $434       $416
 JB Hunt Transport Services Inc  JBHT.O   $188       $180
 Expeditors International of              $117       $114
 Washington Inc  EXPD.N                              
                                                     
 
    ** In 2023, the Dow Jones Transport Average Index  .DJT  had
risen 18.7%

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