UPDATE: Jefferies Color On EXPD Target Increase

Jefferies, which raised its PT on shares of Expeditors International of Washington Inc. EXPD, is providing some color on the stock. “EXPD reported 1Q EPS 13.5% ahead of consensus, but talked down extrapolating the quarter's strength into forward periods,” Jefferies writes. “Gross yields improved YoY for the first time since 3Q:09, a potential inflection point we alluded to in our 4Q review.” Expeditors International of Washington closed Wednesday at $52.80.