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Upgrade Alert for Expeditors International of Washington (EXPD)

By David Diaz

Expeditors International of Washington (NASDAQ:EXPD) was upgraded from Equal Weight to Overweight at Barclays Capital today. The stock closed yesterday at $48.70 on volume of 1.3 million shares, below average daily volume of 1.4 million.

Over the past year, Expeditors International of Washington has traded in a range of $40.41 to $51.80 and closed yesterday at $48.70, 21% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

Expeditors International of Washington, Inc. is a global logistics company. The Company provides air and ocean freight forwarding, vendor consolidation, customs clearance, marine insurance, distribution, and other international logistics services.

Expeditors International of Washington has overhead space with shares priced $48.70, or 8.7% below the average consensus analyst price target of $53.35. The stock should discover initial support at its 200-day moving average (MA) of $47.24 and subsequent support at its 50-day MA of $47.19.

SmarTrend recommended that subscribers consider buying shares of Expeditors International of Washington on January 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.68. Since that recommendation, shares of Expeditors International of Washington have risen 8.5%. We continue to monitor EXPD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades expeditors international of washington

Ticker(s): EXPD