- Expeditors International of Washington Inc EXPD was initiated with a Hold rating by Benchmark analyst Christopher Kuhn.
- The analyst calls the company a "high-quality freight forwarder" that has taken benefit of the strong growth in the freight forwarding market.
- Kuhn expects Expeditors' revenue and operating margins to revert to normal levels as tight capacity in the air and ocean markets ultimately normalize, and models an EPS drop in 2023.
- He thinks the current valuation adequately accounts for decreasing operating results in 2023.
- Price Action: EXPD shares traded higher by 1.95% at $101.43 on the last check Wednesday.
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