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Fly News Breaks for July 10, 2019
EXPD
Jul 10, 2019 | 06:41 EDT
Goldman Sachs analyst Jordan Alliger started Expeditors with a Selll rating and a $70 price target. The analyst states that while he likes the company as a "strong operator with a high return on capital", he is concerned with its "difficult" near term fundamentals. These include weak Air Freight volumes, oceanfreight carrier consolidation, exposure to trade risk, and high relative sector valuation at 21.6-times his expected next 12-month earnings - the highest multiple in his coverage universe, the analyst writes in his research note.
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