J.P. Morgan Raising PT To $61.00 From $58.00 and EPS To $2.04 From $1.85 on Expeditors (EXPD)

According to a recent report, J.P. Morgan is raising PT to $61.00 from $58.00 and EPS to $2.04 from $1.85 on Expeditors EXPD after gross revenue and yields show strength in 1Q. In the report, J.P. Morgan said, "EXPD's 1Q11 EPS was significantly higher than expected driven by strong 16% growth in airfreight tons, better than expected air and ocean yields, and 465 bp of y/y operating margin expansion. Despite difficult comparisons, it appears likely that EXPD will remain on a strong path of EPS growth which should support further upside for the stock over the next several quarters." EXPD closed yesterday at $52.80.