Expeditors price target raised to $100 from $95 at Wells Fargo

Wells Fargo raised the firm’s price target on Expeditors to $100 from $95 and keeps an Underweight rating on the shares. The firm notes the company’s Q4 EPS missed its estimates by 41c. Volume declines accelerated and made cost control more challenging, pressuring margins, Wells notes. The firm believes that although the cost base will adjust over the next 1-2 quarters, volume will likely remain pressured across much of 2023.