Expeditors downgraded to Underperform from Neutral at Exane BNP Paribas

Exane BNP Paribas downgraded Expeditors to Underperform from Neutral with a $116 price target. The analyst says overcapacity will restrict freight rates while recent spot gains are likely to be transitory. The Red Sea problems have little in common with the pandemic for supply or demand, the analyst tells investors in a research note.