BofA Downgrades Expeditors (EXPD) to Underperform, Slightly Raises PT
Expeditors International of Washington, Inc. (NYSE:EXPD) is one of the 12 Best Logistics Stocks to Buy According to Hedge Funds. On July 11, BofA Securities downgraded Expeditors International of Washington, Inc. (NYSE:EXPD) from “Neutral” to “Underperform” but slightly raised the price target from $117 to $118.
This downgrade was driven by rapidly falling containership rates. At the same time, Expeditors International of Washington, Inc. (NYSE:EXPD) had climbed above BofA’s previous price target.
A busy port with a massive cargo ship and a variety of commercial/industrial vehicles.
BofA pointed out that Expeditors International of Washington, Inc. (NYSE:EXPD) has gained 16% since early April.
The firm also updated its price-to-earnings (P/E) ratio assumption and moved to a 20x multiple for 2026 estimated earnings per share (EPS), down from the previous 21x multiple for 2025 EPS.
BofA estimates flat earnings growth for Expeditors International of Washington, Inc. (NYSE:EXPD) but projects about 5% EPS growth in 2026. The firm believes this will lead to muted share performance.
Expeditors International of Washington, Inc. (NYSE:EXPD) is a global logistics company that offers freight, customs brokerage, time-definite transportation, order management, warehousing and distribution, and customized logistics solutions.
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Disclosure: None. This article is originally published at Insider Monkey.
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