Expeditors price target raised to $105 from $95 at Barclays

Barclays analyst Brandon Oglenski raised the firm’s price target on Expeditors to $105 from $95 and keeps an Underweight rating on the shares ahead of the Q4 report. The analyst says transportation equities should benefit as freight markets exit recession in early 2024. The firm expects rail and truck pricing gains to build throughout the year, leading to generally above-consensus earnings estimates across the group. Its relative preference remains in the rails as it senses investor sentiment remains subdued.