TD Cowen Downgrades Expeditors Int'l (EXPD) to Sell

TD Cowen analyst Jason Seidl downgraded Expeditors Int'l (NYSE: EXPD) from Hold to Sell with a price target of $106.00 (from $112.00).

The analyst comments "The outlook for EXPD has deteriorated in our view as exogenous factors propping the forwarding market have proven temporary with a short-lived port strike and adaptation to Red Sea congestion well underway at this stage. In the absence of these support factors and coupled with growing ocean capacity, we believe reversion to the pre-COVID mean in margins is the appropriate paradigm to view EXPD's earnings. While EXPD shares have given back gains made in the month leading into the East Coast port strike, investors dialed back anticipation of sea-air conversions and a tightening air cargo market; consensus EBIT +3% in 2025 is optimistic in our view and our adjusted estimate models flat y/y growth."

For an analyst ratings summary and ratings history on Expeditors Int'l click here. For more ratings news on Expeditors Int'l click here.

Shares of Expeditors Int'l closed at $123.02 yesterday.

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