BUZZ- Truist lifts Expeditors PT on strong customs demand
Truist has raised the price target for Expeditors Internationalfrom $110 to $120, reflecting a 5.3% premium on the stock's last close. This adjustment is due to increased demand for high-margin customs services amid growing global trade complexities. Truist also raised its Q3 adjusted EPS estimate for Expeditors to $1.45 from $1.16. Additionally, price targets for FedEx and CH Robinson were increased, while UPS's target was cut. Currently, 11 of 18 brokerages rate Expeditors as "hold" or lower, with a median price target of $114.50.
Truist raises PT on global freight forwarder Expeditors International (EXPD.N) to $120 from $110, new PT represents a premium of 5.3% on stock’s last close
Brokerage says it is raising Q3 estimate for co as growing global trade complexities are boosting demand for its high-margin customs services
We expect Q3 results for less-than-truckload carriers to show subdued volumes due to ongoing industrial weakness, but strong pricing and disciplined operations should help preserve margin strength- Truist
Truist lifts Q3 adj. EPS estimates to $1.45 from $1.16
Brokerage also hikes PT on peer Fedex (FDX.N) to $285 from $275 and CH Robinson (CHRW.O) to $150 from $120
However, cuts United Parcel Service’s (UPS.N) PT to $100 from $120
11 of 18 brokerages rate the stock “hold”, 7 “sell” or lower; their median PT is $114.50- data compiled by LSEG
Stock was up 2.9% YTD, as of last close
