Jason Seidl, an analyst from TD Cowen, reiterated the Sell rating on Expeditors International. The associated price target was raised to $131.00.
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Jason Seidl has given his Sell rating due to a combination of factors impacting Expeditors International. Although the company exceeded expectations with its recent earnings report, showing strong performance in customs brokerage and airfreight, there are underlying concerns. The air segment, while benefiting from AI-related tech freight, is growing at a slower pace compared to peers, which could indicate potential challenges ahead.
Additionally, the ocean freight segment is experiencing pressure due to a significant drop in container rates and declining volumes, which are expected to continue facing headwinds. Despite investments in technology and productivity initiatives, the anticipated increase in ocean capacity and the need for a demand turnaround pose risks to future performance. These factors contribute to the cautious outlook and the decision to maintain a Sell rating.
Seidl covers the Industrials sector, focusing on stocks such as CSX, CH Robinson, and Covenant Logistics Group. According to TipRanks, Seidl has an average return of 20.3% and a 62.73% success rate on recommended stocks.