Expeditors International (EXPD)
by Zacks Equity ResearchSeptember 25, 2012 | Comments : 0 Recommended this article: (0)
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We remain concerned over the macroeconomic environment that continues to affect the global demand trend, thereby hurting Expeditors' performance. Further, a hike in freight rates by ocean liners is also expected to pose a headwind to the company.
Competitive threats as well as dependence on asset-based transportation providers contribute to our negative stance on the company. Hence, we have an Underperform rating with the price target of $35, based on 21.5x our earnings estimate for 2012.
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