Expeditors price target lowered to $107 from $110 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Expeditors (EXPD) to $107 from $110 and keeps a Sell rating on the shares. The company’s Q1 slight earnings beat was not entirely unexpected given the growing evidence of pull forward in the quarter, though the beat may be somewhat less than perhaps the market was anticipating, sending the stock down 5% amid the pull forward volume benefit relative to normal and the net revenue margin expansion benefit, the analyst tells investors in a research note. The firm remains cautious on the name given tariffs and ensuing uncertainty around global trade, particularly around China exposure, Goldman adds.