Possible Short- EXPD
Morgan Stanley cuts Expeditors to Underweight amid industry downgrade 07:17 EXPD Morgan Stanley analyst Ravi Shanker is lowering his Freight Transportation industry view from In-Line to Cautious and has downgraded Expeditors to Underweight from Equal Weight with a price target of $95, down from $110. The transportation cycle is "probably closer to the end than the middle," contends Shanker, who thinks 2022 is likely to see momentum continue into the first half but then he does not see significant upside to the cycle from there barring another outbreak of the pandemic causing new disruptions or major weather events. Shanker expects inventory levels at shippers to normalize by mid-2022, by which time supply chain congestion should also see relief, leading to a weaker second half of the year for the sector, the analyst explains.
Morgan Stanley cuts Expeditors to Underweight amid industry downgrade 07:17 EXPD Morgan Stanley analyst Ravi Shanker is lowering his Freight Transportation industry view from In-Line to Cautious and has downgraded Expeditors to Underweight from Equal Weight with a price target of $95, down from $110. The transportation cycle is "probably closer to the end than the middle," contends Shanker, who thinks 2022 is likely to see momentum continue into the first half but then he does not see significant upside to the cycle from there barring another outbreak of the pandemic causing new disruptions or major weather events. Shanker expects inventory levels at shippers to normalize by mid-2022, by which time supply chain congestion should also see relief, leading to a weaker second half of the year for the sector, the analyst explains.

