Press Release From Expeditors International (EXPD)

Expeditors International of Washington EXPD in a press release pre-reported EPS guidance in the range of $0.38-$0.40, well above the $0.30 consensus estimate of PiperJaffray. The management cited increased volume, enhanced productivity and favourable FX as the drivers of this upsurge. Analysts at PiperJaffray feel inventory restocking and gradually improving consumer demand in the 2nd half of 2010 would take the transport volumes well above the market expectation. The analysts believe that a large portion of this upside is sustainable with increased volumes and market share gains. Raising their 2011 EPS estimates to $1.66 and price target from $42 to $46, they gave a Neutral rating for the company.