Expeditors International (EXPD)
by Zacks Equity ResearchJune 26, 2012 | Comments : 0 Recommended this article: (0)
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A dull revenue performance in air and ocean freight segments was primarily responsible for the underperformance. Total revenue was also lower than expected, given an unfavorable demand trend.
We remain concerned about the macroeconomic environment that continues to affect global demand trends, thereby hurting Expeditors' performance. Hence our Underperform rating with a price target of $35, based on 19.6x our earnings estimate for 2012.
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